Crypto Market Sees Broad Decline, Robinhood Chain Sector Leads Losses Down Nearly 10%

Odaily News: On September 10, according to SoSoValue data, due to a combination of factors including the ongoing escalation of the US-Iran conflict, US Treasury buyback volumes falling short of expectations, and the crash of the Meme coin LAPTOP launched by Hunter Biden disrupting the market, crypto market sectors experienced broad declines. The Robinhood Chain sector led losses with a 24-hour drop of 9.47%. Within the sector, Pons (PONS), which had previously surged significantly, fell 16.30%, while Cash Cat (CASHCAT) dropped 12.05%. According to SoSoValue statistics, Robinhood Chain’s daily on-chain transaction count decreased 17.4% compared to the same day last week, ecosystem tokens broadly pulled back, and net cross-chain capital outflows over the past 7 days amounted to approximately $174 million.

Additionally, the RWA sector fell 7.36%, with Sky (SKY) dropping 10.70%, Pendle (PENDLE) falling 7.54%, and Maple Finance (SYRUP) declining 7.38%.

In other sectors, the PayFi sector fell 1.41% over 24 hours, though Zcash (ZEC) rose 3.34%; the Layer1 sector dropped 2.83%, with Polkadot (DOT) falling 6.94%; the CeFi sector declined 3.78%, with Binance Coin (BNB) dropping 4.73%; the DeFi sector fell 4.29%, with Uniswap (UNI) declining 11.69%; the Layer2 sector dropped 4.43%, with Arbitrum (ARB) falling 11.47%; the Meme sector declined 5.48%, with Hunter Biden’s Laptop (LAPTOP), which launched yesterday, rebounding 73.32% after its crash, now trading at $0.844.

Crypto sector indices reflecting historical sector performance show that the ssiRWA, ssiAI, and ssiMeme indices fell 7.36%, 6.38%, and 5.98% respectively.

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