The cryptocurrency market has fallen across the board, with the Meme sector leading the decline by over 8%

According to the news from Hash World Chain and SoSoValue data, due to the significant over-expectation impact of the U.S. July PPI, the expectation for a significant interest rate cut in September has weakened, leading to a cooling of market sentiment. In the past 24 hours, the cryptocurrency market has faced widespread setbacks, with an average decline of about 2% to 9%. Among them, the Meme sector fell 8.62% in 24 hours, with Pepe (PEPE), SPX6900 (SPX), and Fartcoin (FARTCOIN) dropping 10.43%, 10.97%, and 13.52% respectively. Additionally, Ethereum (ETH) fell 2.43%, briefly dropping below $4500, and has now recovered to above $4600. Bitcoin (BTC) decreased by 3.85%, dropping to $119,000. In other sectors, the CeFi sector fell 1.18%, with LEO Token (LEO) remaining relatively strong, rising 1.57%; the Layer1 sector declined by 3.25%, with Algorand (ALGO) down 9.86%; the PayFi sector fell 6.57%, with Velo (VELO) down 10.55%; the DeFi sector decreased by 6.65%, but Saros (SAROS) and AERO (Aerodrome Finance) rose by 2.19% and 2.28% respectively; the Layer2 sector dropped by 6.73%, while SKALE (SKL) surged by 47.98%. The cryptocurrency sector index, reflecting the historical performance of the sectors, shows that the ssiGameFi, ssiMeme, and ssiAI indices fell by 8.57%, 8.55%, and 8.35% respectively.