Crypto Market Pullback: PayFi Sector Drops 4.37%, CeFi Sector Rises 1.13%

The crypto market has been experiencing a pullback, with the PayFi sector leading the decline by 4.37% in the past 24 hours. This sector has seen significant drops, with XRP falling by 5.28% and Bitcoin Cash (BCH) increasing by 0.63%.

In contrast, the CeFi sector has shown resilience, with a 1.13% increase in the past 24 hours. Within this sector, Bitget token (BGB) and Hyperliquid (HYPE) rose by 3.31% and 4.75%, respectively. This resilience in the CeFi sector is notable as it stands in stark contrast to the broader market decline.

Bitcoin (BTC) has also remained relatively stable, rising by 1.12% in the past 24 hours and reaching above $104,000. Ethereum (ETH), on the other hand, fell by 0.05%, trading in a narrow range around $2,500. This stability in BTC and the slight decline in ETH suggest that the market is experiencing a period of consolidation rather than a full-blown sell-off.

Other sectors have also seen mixed results. The Layer1 sector declined by 0.23%, but Binance Coin (BNB) and Sui (SUI) rose by 1.01% and 1.33%, respectively. The DeFi sector dropped by 1.78%, with Raydium (RAY) spiking 4.22% intraday. The Meme sector fell by 2.60%, with Fartcoin (FARTCOIN) and Mog Coin (MOG) rising by 2.48% and 6.94%, respectively. The Layer2 sector declined by 3.88%, with Movement (MOVE) dropping by 9.34%.

The crypto sector index reflecting historical market trends shows that the ssiCeFi and ssiLayer1 indices rose by 1.34% and 0.05%, respectively, in the past 24 hours. This indicates that despite the overall market pullback, certain sectors and tokens are still performing well, suggesting a degree of market segmentation and resilience.