The crypto market sector saw a sharp decline, with ETH falling by more than 6%, while only the SocialFi sector remained relatively resilient.

PANews reported on February 2nd that, according to SoSoValue data, the cryptocurrency market continued its downward trend, although the decline narrowed somewhat. Ethereum (ETH) fell 6.15% in the last 24 hours, breaking below $2300. Bitcoin (BTC) fell 1.21%, breaking below $78,000. Only the SocialFi sector remained relatively resilient, rising 0.58%. Within the sector, Toncoin (TON) rose 0.52%, and Chiliz (CHZ) rose 4.02%.

In other sectors, the Layer 2 sector fell 1.36% in the last 24 hours, but zkSync (ZK) surged 13.62% and Zora (ZORA) rose 4.73%; the Meme sector fell 0.12%, with MemeCore (M) remaining relatively strong, rising 4.79%; the Layer 1 sector fell 1.77%, with Canton Network (CC) rising 4.73% intraday; the DeFi sector fell 1.93%, with MYX Finance (MYX) bucking the trend and rising 14.41%; the CeFi sector fell 2.24%, with Binance Coin (BNB) falling 2.49%; and the PayFi sector fell 2.92%, with Ultima (ULTIMA) surging 19.93%.

The crypto sector indices, which reflect the historical performance of the sector, show that the ssiSocialFi, ssiMeme, and ssiRWA indices rose by 1.20%, 1.14%, and 0.17%, respectively.