Data: Crypto Market Remains Sluggish, with Only the SocialFi Sector Showing Relative Resilience

According to ChainCatcher, citing SoSoValue data, the U.S. August PMI exceeding expectations and hawkish remarks from Federal Reserve officials have cooled expectations for a rate cut in September. As a result, the crypto market broadly declined, with only the SocialFi sector bucking the trend, rising slightly by 0.73%. Within the sector, Toncoin (TON) increased by 1.92%. In addition, Bitcoin (BTC) fell 1.54% over 24 hours, dropping below $113,000. Ethereum (ETH) declined by 1.80%, remaining in a narrow range around $4,200.

In other sectors, the CeFi sector dropped 2.32%, but within the sector, a certain exchange and another exchange (HT) surged by 29.43% and 292.01%, respectively. The PayFi sector fell 2.86%, with Ultima (ULTIMA) rising for three consecutive days and spiking 19.17% intraday. The Meme sector dropped 3.13%, with Pump.fun (PUMP) down 7.38%. The Layer1 sector declined 3.17%, DeFi sector fell 3.37%, and Layer2 sector dropped 3.94%, though SKALE (SKL) rose 10.86%.

According to crypto sector indices reflecting historical sector performance, the ssiSocialFi index rose 0.98%, while the ssiCeFi and ssiLayer1 indices fell by 1.38% and 2.38%, respectively.