Crypto market declines for two consecutive days, PayFi sector drops 4.36%, BTC falls below $77,000

Crypto market declines for two consecutive days, PayFi sector drops 4.36%, BTC falls below $77,000 – Odaily
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Crypto market declines for two consecutive days, PayFi sector drops 4.36%, BTC falls below $77,000

Odaily News — On September 11 as US August PPI came in above expectations, market bets on the probability of a Fed <a href="https://xpertsstudio.com/bitcoin-ethereum-xrp-dogecoin-fall-as-hot-ppi-raises-rate-hike-bets-analyst-says-btc-not-the-biggest/” title=”Bitcoin, Ethereum, XRP, Dogecoin Fall as Hot PPI Raises Rate Hike Bets: Analyst Says BTC Not the 'Biggest”>rate hike in September rose to 70%. Combined with the ECB’s firm commitment to a 25BP defensive rate hike, crypto market sectors declined once again. The PayFi sector showed weakness, leading the decline over 24 hours with a 4.36% drop, among which Zcash (ZEC) fell 11.60%, Dash (DASH) fell 3.83%, and XRP fell 2.48%

Meanwhile, Bitcoin (BTC) fell 1.53%, dropping below $77,000; Ethereum (ETH) fell 0.40%, dropping below $2,500.

Among other sectors, the CeFi sector fell 1.26% over 24 hours, with Aster (ASTER) down 5.17%; the Layer1 sector fell 2.47%, with Canton Network (CC) down 5.22%; the DeFi sector fell 2.87%, but Raydium (RAY) bucked the trend with a 26.19% gain; the Meme sector fell 3.39%, with MarsCoin (MARSCOIN) and 牛来 (牛来) surging 18.95% and 42.86% respectively during intraday trading; the Layer2 sector fell 4.14%, with Starknet (STRK) down 8.16%.

Crypto sector indices reflecting historical sector performance show that the ssiLayer2, ssiDeFi, and ssiPayFi indices fell 4.23%, 3.21%, and 3.08% respectively.

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