Crypto sectors moved lower on Sept. 10, according to SoSoValue, as the market was hit by a mix of pressures including the continued escalation of the U.S.-Iran conflict, a U.S. Treasury buyback scale that fell short of expectations, and turbulence linked to the sharp drop in Hunter Biden’s Laptop (LAPTOP), a meme token launched by Hunter Biden. Among tracked sectors, Robinhood Chain posted the steepest 24-hour decline at 9.47%. Within the segment, Pons (PONS), which had rallied sharply earlier, fell 16.30%, while Cash Cat (CASHCAT) dropped 12.05%.
SoSoValue also said Robinhood Chain’s daily on-chain transaction count was down 17.4% from the same day last week, while tokens in the ecosystem broadly pulled back. Cross-chain capital flows for the past seven days showed net outflows of about $174 million. Elsewhere, the RWA sector fell 7.36%, with Sky (SKY), Pendle (PENDLE), and Maple Finance (SYRUP) all posting declines. Other segments including Layer1, CeFi, DeFi, Layer2, and Meme also ended lower, though Zcash (ZEC) rose 3.34% in the PayFi category. Sector indexes tracking historical performance, including ssiRWA, ssiAI, and ssiMeme, also registered losses.
Crypto sectors fell across the board on Sept. 10, according to SoSoValue, which said the move came under a combination of pressures including the continued escalation of the U.S.-Iran conflict, a U.S. Treasury buyback scale that missed expectations, and market disruption caused by the sharp drop in LAPTOP, a meme token launched by Hunter Biden.
Robinhood Chain posts the biggest sector decline
Robinhood Chain was the weakest-performing sector over the past 24 hours, falling 9.47%.
Within the sector, Pons (PONS), which had previously surged, dropped 16.30%, while Cash Cat (CASHCAT) fell 12.05%.
SoSoValue said Robinhood Chain’s single-day on-chain transaction count fell 17.4% from the same day last week. Tokens across the ecosystem broadly pulled back, and net cross-chain outflows over the past seven days reached about $174 million.
RWA and other sectors also move lower
The RWA sector fell 7.36%. Among its constituents, Sky (SKY) lost 10.70%, Pendle (PENDLE) dropped 7.54%, and Maple Finance (SYRUP) declined 7.38%.
In other sectors, PayFi fell 1.41% over 24 hours, though Zcash (ZEC) rose 3.34%. Layer1 fell 2.83%, with Polkadot (DOT) down 6.94%. CeFi lost 3.78%, and Binance Coin (BNB) fell 4.73%. DeFi dropped 4.29%, with Uniswap (UNI) down 11.69%. Layer2 declined 4.43%, and Arbitrum (ARB) fell 11.47%.
Meme sector declines as LAPTOP rebounds
The Meme sector fell 5.48%. Hunter Biden's Laptop (LAPTOP), which launched yesterday, rebounded 73.32% after a sharp slump and was quoted at $0.844.
Crypto sector indexes tracking historical performance also moved lower. The ssiRWA, ssiAI, and ssiMeme indexes fell 7.36%, 6.38%, and 5.98%, respectively.
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