The crypto market is broadly declining, with the Layer2 sector falling over 3% and BTC dropping below $59,000

According to SoSoValue data on July 1st, the crypto market is broadly declining. The Layer 2 sector fell 3.57% in 24 hours, with Mantle (MNT) dropping 4.97%, Starknet (STRK) falling 4.93%, and Celestia (TIA) declining 9.54%. Meanwhile, Bitcoin (BTC) fell 1.89%, dropping below $59,000; Ethereum (ETH) fell 0.98%, dropping below $1,600.

In other sectors, the PayFi sector fell 0.29% in 24 hours, but Stellar (XLM) rose 11.00%; the CeFi sector fell 0.87%, with Binance Coin (BNB) declining 1.19%; the Meme sector fell 1.05%, while MemeCore (M) bucked the trend and rose 22.60%; the Layer1 sector fell 1.41%, with Cardano (ADA) being relatively resilient, rising 1.32%; the DeFi sector fell 2.79%, with LAB (LAB) declining 14.83%.

Furthermore, the SocialFi and NFT sectors were relatively resilient, rising 0.50% and 0.54% respectively. Within the SocialFi sector, Gram (GRAM) rose 1.01%; within the NFT sector, Audiera (BEAT) rose 7.87%.

The crypto sector indices reflecting historical sector performance show that the ssiDePIN, ssiLayer2, and ssiRWA indices fell by 5.11%, 4.80%, and 2.56% respectively.