The crypto market generally rose, the Meme sector rose by more than 5%, and the SocialFi sector fell for two consecutive days

Odaily Planet Daily News According to SoSoValue data, the Federal Reserve cut interest rates by 25 basis points, restarting the pace of interest rate cuts that have been suspended since December, and expects to have 50 basis points of room for interest rate cuts this year. Affected by this positive factor, the crypto sector generally rose, with the Meme sector rising 5.09% in 24 hours. Within the sector, MemeCore (M) rose sharply by 18.49% and Pump.fun (PUMP) rose 7.13%. In addition, Ethereum (ETH) rose 2.26%, breaking through $4,600. But Bitcoin (BTC) fell slightly by 0.05%, maintaining around $116,000. Meanwhile, MAG 7.ssi rose 2.37%, DEFI.ssi rose 2.63%, and MEME.ssi rose 5.06%. The sectors that performed well include: the NFT sector rose 4.48% in 24 hours, among which Pudgy Penguins (PENGU) rose 10.11%, the AI ​​sector rose 3.79%, Fartcoin (FARTCOIN) rose 8.56%, the DeFi sector rose 3.68%, and MYX Finance (MYX) rose 27.85%. In other sectors, Layer 1 rose 3.64%, while Avalanche (AVAX) rose 8.43%; CeFi sector rose 3.08%, Binance Coin (BNB) rose 3.18%, approaching the $1,000 mark at one point, setting a new record high, APX rose 377.12%; Layer 2 sector rose 1.88%, Arbitrum (ARB) rose 5.27%; PayFi sector rose 1.66%, Bitcoin Cash (BCH) rose 3.82%. In addition, the SocialFi sector fell for two consecutive days, falling another 0.08% in 24 hours, of which Toncoin (TON) fell 0.44%. The crypto sector index reflecting the historical market of the sector shows that the ssiNFT, ssiAI, and ssiMeme indexes rose by 6.36%, 4.83%, and 4.68%, respectively.