The cryptocurrency market experienced widespread declines, with 24-hour losses ranging from 2% to 9%, according to SoSoValue data. The DeFi sector led the downturn, dropping 8.77%. Notably, LAB (LAB) plummeted 67.70%, while Hyperliquid (HYPE) decreased by 4.30%. However, EdgeX (EDGE) and Lido DAO (LDO) defied the trend, gaining 29.12% and 11.01%, respectively.
Other sectors also faced declines: the CeFi sector fell 1.66%, with Cronos (CRO) down 3.91%; the Layer1 sector decreased by 2.22%, although Zcash (ZEC) surged 5.17% intraday. The PayFi sector dropped 2.30%, but Telcoin (TEL) showed resilience, rising 4.11%. The Meme sector fell 2.73%, yet MemeCore (M) rose sharply by 11.30%. The Layer2 sector saw a 3.02% decline, with Mantle (MNT) down 5.31%.
Crypto Market Sees Broad Declines, DeFi Sector Down Nearly 9%
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