Market Overview: Layer2 Leads Declines, BTC Breaks $59K
According to the latest data from SoSoValue, the cryptocurrency sector experienced broad selling pressure, with the Layer2 segment suffering the most, dropping 3.57% in the past 24 hours. Among the notable losers, Celestia (TIA) plummeted 9.54%, while Mantle (MNT) declined 4.97% and Starknet (STRK) fell 4.93%, all underperforming the broader market.
Bitcoin (BTC) dropped 1.89%, breaking below the $59,000 mark, while Ethereum (ETH) lost 0.98%, slipping below the $1,600 key support level. Market risk aversion is clearly rising, with capital flowing out of higher-risk Layer2 and DeFi sectors.
Sector Divergence: Meme Token Anomaly, XLM and ADA Buck the Trend
Against the backdrop of an overall downturn, several sectors showed internal divergence. The Meme sector fell 1.05% as a whole, but MemeCore (M) surged an astonishing 22.6%, making it one of the top gainers across the market. The PayFi sector dipped 0.29%, yet Stellar (XLM) posted a strong 11% gain, exhibiting an independent rally. The Layer1 sector declined 1.41%, with Cardano (ADA) bucking the trend, rising 1.32%, indicating some capital flows betting on its ecosystem.
The CeFi sector dropped 0.87%, with Binance Coin (BNB) falling 1.19%, slightly underperforming the sector average. The DeFi sector saw a larger decline of 2.79%, dragged down by a 14.83% plunge in LAB (LAB), which was the biggest loser in the segment.
SocialFi and NFT Sectors Hold Up, Posting Small Gains
In contrast, the SocialFi and NFT sectors proved most resilient, rising 0.5% and 0.54% respectively. Within SocialFi, Gram (GRAM) gained 1.01%, leading the sub-sector; in the NFT space, Audiera (BEAT) advanced 7.87%, highlighting localized capital activity in niche tracks.
Overall, the crypto market is in a broad decline after Bitcoin broke key support, yet individual tokens and sectors still offer opportunities for capital speculation. Attention should be paid to macroeconomic data and market sentiment recovery in the coming days.