The cryptocurrency market is sluggish, with only the SocialFi sector rising against the trend.

According to news from HashChain, influenced by the better-than-expected US PMI data and hawkish remarks from Federal Reserve officials, the expectation for interest rate cuts in September has cooled, leading to a general decline in the cryptocurrency market today. Bitcoin fell by 1.54%, dropping below $113,000, and Ethereum decreased by 1.80%, nearing $4,200. Among various sectors, SocialFi saw a slight increase of 0.73%, and Toncoin rose by 1.92%; CeFi fell by 2.32%, but OKB and HT surged by 29.43% and 292.01% respectively; PayFi dropped by 2.86%, while ULTIMA increased by 19.17% during trading; Meme declined by 3.13%, and Pump.fun fell by 7.38%; Layer1 decreased by 3.17%, DeFi dropped by 3.37%, and Layer2 fell by 3.94%, but SKALE rose by 10.86%.