Crypto Market Sectors Retreat as Meme Tokens Lead Daily Declines

• Meme sector leads losses as SocialFi stays positive despite wider crypto market weakness.
• SocialFi tops weekly and quarterly returns while DeFi leads year-to-date performance.
• Crypto sentiment stays in Fear as Bitcoin, Ethereum, and XRP extend daily declines.

The crypto market turned lower after several days of gains, with sector performance data pointing to renewed caution across digital assets. Figures from SoSoValue showed losses spreading through most major crypto categories over the past 24 hours, while broader market indicators also reflected weaker prices and subdued investor sentiment.

Although several individual tokens posted gains despite the decline, the Meme sector recorded the highest daily loss among the major narratives, contrasting with the SocialFi sector, which remained one of the few areas to finish the session in positive territory.

Meme Sector Records the Largest Daily Decline

According to SoSoValue data, the Meme sector fell by 2.72% over the past 24 hours, making it the weakest-performing category during the reporting period. Several tokens within the sector posted losses compared to the broader index. Bonk (BONK) declined by 8.57%, while MemeCore (M) dropped by 13.17%. BUILDon (B) recorded the largest decline among the highlighted assets, falling 19.36%.

Other crypto sectors also moved lower, although losses were comparatively smaller. Layer2 slipped by 0.36%, even as ImmutableX (IMX) advanced 4.27%. DeFi declined by 0.44%, but EdgeX (EDGE) rose 29.92%, standing out against the broader sector trend.

Layer1 fell by 0.69%, while NEAR Protocol (NEAR) gained 2.89%. CeFi lost 0.74%, with Bitget Token (BGB) declining 3.17%, and PayFi dropped 0.96% despite Trust Wallet (TWT) adding 1.39%.

SocialFi was the only highlighted sector to post a gain, rising 0.35%, with Gram (GRAM) increasing 0.57%.

Short-Term Activity Differs From Annual Performance

Sector index performance presented a mixed picture across different timeframes. The ssiSocialFi index increased by 0.20% during the day, while the ssiAI and ssiMeme indices declined 2.55% and 2.27%, respectively.

Over the past week, ssiSocialFi led all tracked sectors with a 9.54% gain. The ssiDeFi index posted the strongest one-month return at 11.59% and also led year-to-date performance with an increase of 14.73%.

Over the last three months, ssiSocialFi remained the top-performing category, rising by 30.63%.

Longer-term figures remained weaker. The ssiCeFi index, priced at $18.34, recorded the smallest annual decline at 15.90%. In contrast, ssiGameFi recorded the largest yearly loss at 72.16%, followed by ssiDePIN at 70.42% and ssiNFT at 69.15%.

Crypto Market Remains Under Pressure

The wider crypto market also recorded negative trading performance. Total crypto market capitalization stood at $2.18 trillion, down by 0.28%, while the CMC20 Index traded between $128.95 and $128.65, posting daily declines of 0.54% and 0.46%, respectively.

Among the largest cryptocurrencies, Bitcoin traded at $62,769, falling 0.60% over 24 hours, while Ethereum declined by 0.99% to $1,756.76. BNB changed hands at $577.45, and XRP traded at $1.12 after recording a 1.74% daily loss, the largest decline among the listed major assets.

Market sentiment also remained subdued. The Crypto Fear & Greed Index registered a reading of 28, placing sentiment in the Fear zone and reflecting continued caution among market participants despite recent short-term rebounds.

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