PANews reported on February 2nd that, according to SoSoValue data, the cryptocurrency market continued its downward trend, although the decline narrowed somewhatPANews reported on February 2nd that, according to SoSoValue data, the cryptocurrency market continued its downward trend, although the decline narrowed somewhat
The crypto market sector saw a sharp decline, with ETH falling by more than 6%, while only the SocialFi sector remained relatively resilient.
News Brief
PANews reported on February 2nd that the crypto market continued its downward trajectory, though the pace of decline appeared to moderate somewhat. Ethereum experienced a notable 6.15% drop over 24 hours, falling below the $2,300.00 threshold, whereas Bitcoin declined 1.21%, settling beneath $78,000.00. The SocialFi sector emerged as the sole bright spot, analysts believe, climbing 0.58% with Toncoin advancing 0.52% and Chiliz surging 4.02%. Layer 2 tokens, however, decreased 1.36%, yet zkSync impressively spiked 13.62% while Zora gained 4.73%. The Meme sector remained relatively flat at -0.12%, with MemeCore maintaining strength at 4.79%. Layer 1 fell 1.77%, though Canton Network rose 4.73%. DeFi slid 1.93%, but MYX Finance defied expectations, surging 14.41%. CeFi dropped 2.24%, with Binance Coin down 2.49%, and PayFi declined 2.92%, despite Ultima's remarkable 19.93% rally. Overall, historical performance showed the ssiSocialFi, ssiMeme, and ssiRWA indices posting gains of 1.20%, 1.14%, and 0.17% respectively.
PANews reported on February 2nd that, according to SoSoValue data, the cryptocurrency market continued its downward trend, although the decline narrowed somewhat. Ethereum (ETH) fell 6.15% in the last 24 hours, breaking below $2300. Bitcoin (BTC) fell 1.21%, breaking below $78,000. Only the SocialFi sector remained relatively resilient, rising 0.58%. Within the sector, Toncoin (TON) rose 0.52%, and Chiliz (CHZ) rose 4.02%.
In other sectors, the Layer 2 sector fell 1.36% in the last 24 hours, but zkSync (ZK) surged 13.62% and Zora (ZORA) rose 4.73%; the Meme sector fell 0.12%, with MemeCore (M) remaining relatively strong, rising 4.79%; the Layer 1 sector fell 1.77%, with Canton Network (CC) rising 4.73% intraday; the DeFi sector fell 1.93%, with MYX Finance (MYX) bucking the trend and rising 14.41%; the CeFi sector fell 2.24%, with Binance Coin (BNB) falling 2.49%; and the PayFi sector fell 2.92%, with Ultima (ULTIMA) surging 19.93%.
The crypto sector indices, which reflect the historical performance of the sector, show that the ssiSocialFi, ssiMeme, and ssiRWA indices rose by 1.20%, 1.14%, and 0.17%, respectively.
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