Crypto Market Declines Broadly, DeFi Sector Drops Over 3%

Odaily News, July 14 – According to SoSoValue data, the crypto market sectors experienced a broad pullback, with the DeFi sector falling 3.28%. Hyperliquid (HYPE) dropped 5.59%, and DeXe (DEXE) fell 10.93%. However, Beldex (BDX) and Velvet (VELVET) bucked the trend, rising 16.24% and 18.46%, respectively. Meanwhile, Bitcoin (BTC) fell 1.71%, dropping below $63,000; Ethereum (ETH) fell 1.48%, dipping below $1,800.

In other sectors, the Layer 2 segment declined 0.12% over 24 hours, with Polygon (ex-MATIC) (POL) holding relatively firm, up 2.67%. The CeFi sector fell 1.21%, with Cronos (CRO) down 2.64%. The Meme sector decreased 1.76%, with SPX6900 (SPX) dropping 8.38%. The Layer 1 sector fell 2.20%, but NEAR Protocol (NEAR) rallied 2.94% during the session. The PayFi sector declined 2.36%, while eCash (XEC) surged 17.48%.

Reflecting historical sector performance, the crypto sector indices showed that the ssiDePIN, ssiAI, and ssiDeFi indices fell 3.68%, 3.60%, and 3.46%, respectively.