The cryptocurrency market is broadly down, with the DeFi sector dropping nearly 9%

Odaily Odaily News On July 8th, according to SoSoValue data, the cryptocurrency market is broadly down, with declines generally ranging from 2% to 9% in the past 24 hours. The DeFi sector led the market decline, falling 8.77%. LAB (LAB) dropped 67.70%, and Hyperliquid (HYPE) fell 4.30%. However, EdgeX (EDGE) and Lido DAO (LDO) bucked the trend, rising 29.12% and 11.01% respectively.

In other sectors, the CeFi sector fell 1.66% in the past 24 hours, with Cronos (CRO) down 3.91%; the Layer1 sector fell 2.22%, with Zcash (ZEC) surging 5.17% during the session; the PayFi sector fell 2.30%, with Telcoin (TEL) relatively resilient, rising 4.11%; the Meme sector fell 2.73%, but MemeCore (M) surged 11.30%; the Layer2 sector fell 3.02%, with Mantle (MNT) down 5.31%.

Crypto sector indices reflecting historical sector performance show that the ssiSocialFi, ssiDePIN, and ssiAI indices fell by 9.26%, 6.50%, and 5.23% respectively.