Crypto Market Woes: DeFi Sector Takes Hit Amid Broader Decline

The cryptocurrency market as a whole has experienced a decline in recent days, according to data from SoSoValue. This downturn is attributed to various sectors within the crypto space, with some performing significantly worse than others.

The DeFi sector led the decline, dropping by approximately 8.77% over the past 24 hours. Other sectors such as CeFi and Layer1 also saw declines of 1.66% and 2.22%, respectively. However, not all assets within these sectors performed poorly, with EdgeX (EDGE) and Lido DAO (LDO) rising by 29.12% and 11.01%, respectively.

Certain notable exceptions were observed in the Layer1 sector, where Zcash (ZEC) surged by 5.17% intraday. Additionally, some assets within the DeFi sector fared relatively better than others, with LAB plummeting by 67.70% and Hyperliquid (HYPE) dropping by 4.30%.