Data: Crypto Market Suffers Broad Losses, Meme Sector Leads Decline with Over 8% Drop, ETH Briefly Falls Below $4,500

According to ChainCatcher, data from SoSoValue shows that, impacted by the much higher-than-expected US July PPI, expectations for a significant rate cut in September have weakened, leading to a cooling of market sentiment. Over the past 24 hours, the entire crypto market has suffered losses, with most declines ranging from approximately 2% to 9%. Specifically, the Meme sector dropped 8.62% in 24 hours, with Pepe (PEPE), SPX6900 (SPX), and Fartcoin (FARTCOIN) falling by 10.43%, 10.97%, and 13.52% respectively. In addition, Ethereum (ETH) fell 2.43%, briefly dropping below $4,500 before rebounding above $4,600. Bitcoin (BTC) declined 3.85%, falling below $119,000.

In other sectors, the CeFi sector fell 1.18% in 24 hours, with LEO Token (LEO) showing relative resilience, rising 1.57%. The Layer1 sector dropped 3.25%, with Algorand (ALGO) down 9.86%. The PayFi sector fell 6.57%, with Velo (VELO) down 10.55%. The DeFi sector dropped 6.65%, but Saros (SAROS) and AERO (Aerodrome Finance) rose 2.19% and 2.28% respectively. The Layer2 sector fell 6.73%, while SKALE (SKL) bucked the trend, surging 47.98%.

Indices reflecting the historical performance of various sectors show that the ssiGameFi, ssiMeme, and ssiAI indices fell by 8.57%, 8.55%, and 8.35% respectively.