Crypto market broadly corrects, meme sector drops over 3%

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ETH
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PUMP
$0.004193-4.89%
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TRUMP
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The crypto market sharply declined on September 2, with the Fear & Greed Index indicating heightened anxiety. Escalating tensions between the U.S. and Iran, combined with rising U.S. Treasury yields, triggered a broad sell-off. The Meme sector fell 3.18%, with Pump.fun (PUMP) and OFFICIAL TRUMP (TRUMP) dropping 8.41% and 6.42%, respectively. Bitcoin (BTC) and Ethereum (ETH) declined 2.15% and 2.99%, falling below $77,000 and $2,400. The RWA sector demonstrated greater resilience amid the market turmoil.

Odaily Planet Daily report: On September 2, according to SoSoValue data, the cryptocurrency market experienced a general correction due to a combination of factors including the escalation of U.S.-Iran tensions and a sharp rise in U.S. Treasury yields. The Meme sector underperformed, declining 3.18% over 24 hours. Within the sector, Pump.fun (PUMP) fell 8.41%, and OFFICIAL TRUMP (TRUMP) dropped 6.42%. However, popular ecosystem tokens on Robinhood Chain—Pons (PONS) and Cash Cat (CASHCAT)—rose 0.96% and 2.83%, respectively.

Additionally, Bitcoin (BTC) fell 2.15% below $77,000, and Ethereum (ETH) dropped 2.99% below $2,400.

In other sectors, the DeFi sector declined 0.82%, while Uniswap (UNI) rose 11.16% against the trend; the CeFi sector fell 1.62%, with Cronos (CRO) down 3.98%; the Layer 1 sector dropped 2.82%, and Canton Network (CC) fell 7.63%; the Layer 2 sector declined 2.92%, with Arbitrum (ARB) down 1.34%; and the PayFi sector decreased 3.18%, as Zcash (ZEC) fell 2.93%.

The crypto sector indices reflecting historical market performance show that the ssiRWA and ssiDePIN indices rose by 1.40% and 0.21%, respectively, while the ssiSocialFi index fell by 6.70%.

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