The entire crypto market declines, with the DeFi sector dropping nearly 9%.

Odaily reported on July 8 that, according to SoSoValue data, the crypto market experienced a broad downturn, with 24-hour declines generally ranging from 2% to 9%. The DeFi sector led the decline, down 8.77%. LAB (LAB) plummeted 67.70%, Hyperliquid (HYPE) dropped 4.30%, while EdgeX (EDGE) and Lido DAO (LDO) defied the trend, rising 29.12% and 11.01%, respectively.

In other sectors, CeFi declined 1.66% over 24 hours, with Cronos (CRO) down 3.91%. The Layer1 sector fell 2.22%, while Zcash (ZEC) surged 5.17% intraday. The PayFi sector dropped 2.30%, but Telcoin (TEL) remained relatively strong, rising 4.11%. The Meme sector was down 2.73%, but MemeCore (M) jumped 11.30%. Layer2 fell 3.02%, with Mantle (MNT) down 5.31%.

Crypto sector indices reflecting historical performance showed ssiSocialFi, ssiDePIN, and ssiAI indices down 9.26%, 6.50%, and 5.23%, respectively.