Data: The cryptocurrency market is experiencing a widespread decline, with the Layer 2 sector leading the drop by nearly 8%. BTC has fallen below $88,000

According to SoSoValue data, the overall cryptocurrency market is experiencing a general decline, with a 24-hour drop typically around 3% to 8%. The Layer2 sector leads the decline with a drop of 7.72%. Within this sector, Starknet (STRK) fell by 13.13%, and zkSync (ZK) decreased by 10.99%. Additionally, Bitcoin (BTC) dropped by 3.91%, falling below $88,000; Ethereum (ETH) decreased by 5.17%, dropping below $2,900.

In other sectors, the CeFi sector fell by 3.90% in 24 hours, with HashKey Platform Token (HSK) relatively resilient, rising by 1.35%. In news, HSK has passed the Hong Kong Stock Exchange hearing and plans to go public in Hong Kong; the PayFi sector declined by 4.85%, but Monero (XMR) rose by 3.55%; the Layer1 sector dropped by 5.31%, with Zcash (ZEC) falling by 17.38%; the Meme sector decreased by 5.44%, while MemeCore (M) rose against the trend by 7.15%; the DeFi sector fell by 6.40%, with MYX Finance (MYX) surging by 8.21% during the day; the AI sector declined by 6.84%, but within the sector, SoSoValue (SOSO) rose by 8.43%.

The cryptocurrency sector indices reflecting historical market trends show that the ssiAI, ssiDePIN, and ssiGameFi indices fell by 8.23%, 8.22%, and 7.67%, respectively.