The entire crypto sector suffered a severe blow, with PayFi leading the decline at nearly 14%, and BTC briefly falling below $60,000.

According to SoSoValue data, the entire cryptocurrency market suffered a severe blow, with most stocks falling by 7% to 14% in the past 24 hours. The PayFi sector led the decline, falling 13.86%. Within the sector, XRP and Litecoin (LTC) fell by 12.58% and 13.87% respectively, while Monero (XMR) fell by 20.28%. Meanwhile, Bitcoin (BTC) fell 10.10%, briefly dipping below $60,000 before recovering to above $65,000; Ethereum (ETH) fell 10.08%, briefly dropping to $1,700 before settling at $1,900. In other sectors, the DeFi sector fell 7.41% in the last 24 hours, but MYX Finance (MYX) and Hyperliquid (HYPE) bucked the trend, rising 9.68% and 6.07% respectively. The Layer 1 sector fell 9.93%, with Zcash (ZEC) down 16.20%. The CeFi sector fell 10.64%, with OKB down 12.35%. The Meme sector fell 12.17%, with MemeCore (M) showing relative resilience, rising 2.78%. The Layer 2 sector fell 13.06%, with zkSync (ZK) surging 4.90% intraday. Crypto sector indices reflecting historical performance show that the ssiPayFi, ssiAI, and ssiDePIN indices fell 15.49%, 14.96%, and 14.93% respectively.