Crypto Sectors Fall as U.S. August PPI Beats Expectations

Crypto market sectors fell again on September 11 after U.S. August PPI came in above expectations, lifting bets that the Federal Reserve will raise rates in September to 70%. According to Odaily, the European Central Bank also carried out a 25-basis-point defensive rate hike. PayFi led losses among sectors, falling 4.36% over 24 hours. Zcash (ZEC) dropped 11.60%, Dash (DASH) fell 3.83%, and XRP declined 2.48%. Bitcoin (BTC) fell 1.53% and dropped below $77,000, while Ethereum (ETH) slipped 0.40% and fell below $2,500. CeFi lost 1.26%, with Aster (ASTER) down 5.17%. Layer1 fell 2.47%, and Canton Network (CC) dropped 5.22%. DeFi declined 2.87%, although Raydium (RAY) rose 26.19%. Meme tokens fell 3.39%, while MarsCoin (MARSCOIN) and Niu Lai rose 18.95% and 42.86%, respectively, during the session. Layer2 fell 4.14%, with Starknet (STRK) down 8.16%. Crypto sector indices tracking historical performance showed ssiLayer2, ssiDeFi, and ssiPayFi falling 4.23%, 3.21%, and 3.08%, respectively.