Crypto market sees broad decline, DeFi sector drops over 5%

Odaily Planet Daily News, July 17. According to SoSoValue data, the crypto market sectors experienced a broad decline, with the DeFi sector showing weakness, dropping 5.08% in 24 hours. Among them, Hyperliquid (HYPE) fell 10.28%, DeXe (DEXE) and Aave (AAVE) dropped 4.83% and 6.12% respectively, but Beldex (BDX) bucked the trend and rose 6.61%.

Meanwhile, Bitcoin (BTC) fell 1.79%, dropping below $64,000; Ethereum (ETH) fell 3.53%, dropping below $1,900.

In other sectors, the Layer 2 sector fell 0.63% in 24 hours, but Mantle (MNT) rose 3.16%; the CeFi sector fell 0.94%, with Cronos (CRO) surging 8.68% during the session; the PayFi sector fell 2.32%, with Zcash (ZEC) dropping 6.88%; the Layer 1 sector fell 2.41%, with NEAR Protocol (NEAR) dropping 4.64%; the Meme sector fell 2.57%, with Bonk (BONK) dropping 5.70%.

The crypto sector indices reflecting historical sector performance showed that the ssiDeFi, ssiSocialFi, and ssiAI indices fell 5.97%, 4.24%, and 3.56% respectively.