On-chain data from SoSoValue on June 4 reveals a distinctly split crypto market, with a few niche sectors rallying while major layer-1 assets sold off. The AI sector led gains with a 3.59% increase over 24 hours, and DeFi followed with a 1.93% advance. However, Bitcoin erased over 6% and temporarily dipped below $62,000, underlining the day's risk-off tilt in the broader market.
AI and DeFi Shine Amid Weakness
The AI category saw standout performances: Worldcoin (WLD) soared 22%, while SkyAI (SKYAI) and Tagger (TAG) climbed 6.26% and 10.28% respectively. Within DeFi, Hyperliquid (HYPE) broke through the $75 mark to set a fresh all-time high, and Ethena (ENA) surged 21.51% after Coinbase Ventures made its first direct investment in the token. The RWA segment also edged up 1.48%, with Ondo Finance (ONDO) ticking 0.56% higher, and the NFT sector added 2.55%, driven by a 19.27% jump in Audiera (BEAT).
These pockets of strength were fueled by isolated narratives—AI tokens benefiting from thematic rotation, while ENA reacted to a concrete investment catalyst—rather than a broad recovery in risk appetite.
Bitcoin and Ether Lead the Downturn
The two largest cryptocurrencies extended their losses. Bitcoin fell 6.19%, intraday breaching the $62,000 level, and Ethereum dropped 4.52%, slipping below $1,800. The sell-off spread across multiple sub-sectors. Layer-2 names shed 1.04%, though Polygon (POL) managed a marginal 0.69% gain. Meme coins declined 1.85%, while the broader Layer-1 basket lost 3.67%, with Kaspa (KAS) as a notable outlier rising 6.30%. PayFi fell 3.73%, though Monero (XMR) bucked the trend with a 7.60% increase, and CeFi stocks retreated 5.14%.
Reflecting the broader weakness, sector-tracking indices turned red: the ssiSocialFi index dropped 8.61%, ssiCeFi fell 5.61%, and the ssiMAG7 index declined 5.35%, underscoring how defensive positioning dominated the session.