The entire crypto sector suffered heavy losses, with the PayFi sector leading the decline by nearly 14%, and BTC briefly falling below $60,000.

PANews, February 6th – According to SoSoValue data, the entire crypto market sector suffered heavy losses, with most sectors experiencing a 24-hour decline of approximately 7% to 14%. The PayFi sector led the drop with a decrease of 13.86%. Within the sector, XRP and Litecoin (LTC) fell by 12.58% and 13.87% respectively, while Monero (XMR) dropped by 20.28%. Meanwhile, Bitcoin (BTC) fell by 10.10%, briefly dropping below $60,000 before rebounding above $65,000; Ethereum (ETH) declined by 10.08%, once falling to $1,700 and now trading at $1,900.

In other sectors, the DeFi sector dropped 7.41% over 24 hours, but MYX Finance (MYX) and Hyperliquid (HYPE) bucked the trend, rising by 9.68% and 6.07% respectively. The Layer1 sector fell by 9.93%, with Zcash (ZEC) down 16.20%. The CeFi sector dropped by 10.64%, with a certain exchange down 12.35%. The Meme sector declined by 12.17%, but MemeCore (M) remained relatively resilient, rising by 2.78%. The Layer2 sector fell by 13.06%, with zkSync (ZK) surging 4.90% during the session.

Indices reflecting historical sector performance show that the ssiPayFi, ssiAI, and ssiDePIN indices fell by 15.49%, 14.96%, and 14.93% respectively.