Crypto market declines as Meme sector leads losses; Layer 2 and DePIN sectors show gains

According to SoSoValue, the crypto market is experiencing a broad downturn driven by escalating tensions in the Middle East and ongoing concerns regarding AI safety. The Meme sector led the decline with a 24-hour drop of 3.57%, with notable losses in CASHCAT, PONS, and 牛来. Bitcoin (BTC) and Ethereum (ETH) fell by 0.55% and 1.65%, respectively. Conversely, the DePIN sector rose by 3.49%, led by Filecoin (FIL) and Arweave (AR), while the Layer 2 sector saw a modest gain of 0.24%, bolstered by a significant increase in Lisk (LSK). Other sectors, including CeFi, Layer 1, DeFi, and PayFi, also recorded declines.