According to SoSoValue data on June 2, crypto market sectors experienced significant divergence. The PayFi sector slid 4.15% in 24 hours, with XRP down 3.26% and Stellar (XLM) plunging 11.45%. However, Ultima (ULTIMA) bucked the trend, rising 2.79% and providing a rare bright spot within the sector.
Major assets also faced pressure. Bitcoin (BTC) dropped 3.6%, falling below the $71,000 mark, while Ethereum (ETH) lost 0.92% and slipped under $2,000. This broad weakness mirrored the downtrend in many traditional sectors, yet structural opportunities persisted in pockets of the market.
SocialFi, AI, and DeFi Outperform the Market
The SocialFi sector emerged as the day's biggest winner, jumping 7.03%. Within the sector, Toncoin (TON) climbed 4.18% and Chiliz (CHZ) gained 5.71%. The AI sector also delivered strong performance, rising 3.13%, with Worldcoin (WLD) surging 18.53%. DeFi advanced 2.98%, led by Hyperliquid (HYPE) up 1.76% and LAB (LAB) soaring 64.79%. Even the Meme sector managed a 1.09% increase, boosted by Siren (SIREN) which rallied 15.38%.
Intra-Sector Divergence in Layer1 and Layer2
Layer1 overall declined 1.09%, but NEAR Protocol (NEAR) rallied 14.22% intraday, indicating that capital was seeking local breakouts within the category. Layer2 fell 2.31%, with Optimism (OP) showing relative resilience by gaining 2.88%. The CeFi sector slipped 1.47%, and Binance Coin (BNB) dropped 1.94%.
The sector indices reflecting historical performance further confirmed the trend: ssiSocialFi rose 7.22%, ssiAI increased 1.87%, and ssiMeme edged up 1.31%, underscoring the strength of SocialFi and related sectors.