RWA Sector Leads Crypto Market Decline with Over 3% Drop Amid Broad Losses

The RWA sector led crypto losses with a 3.1% drop, dragging down Centrifuge and Ondo Finance. While most sectors declined, isolated gains emerged in GameFi, Meme, and Layer1 assets, highlighting fragmented market sentiment.

Data compiled by Woofun AI shows that the cryptocurrency market is undergoing a broad-based correction, with the Real World Assets (RWA) sector spearheading the downturn. Despite strong performance in the previous session, RWA assets retreated by 3.13% over the last 24 hours. Centrifuge (CFG) suffered the steepest decline within the group at 8.40%, while Ondo Finance (ONDO) and Pendle (PENDLE) fell by 3.02% and 6.08%, respectively.

Concurrently, other verticals experienced mixed results amidst the general sell-off. The GameFi sector dropped 2.59%, though WEMIX defied the trend with a 2.01% gain. In the Meme space, which fell 0.73%, Banana For Scale (BANANA) surged 17.23% and Siren (SIREN) rose 8.27%. The Layer1 sector declined 0.87%, with Algorand (ALGO) up 7.52%, while the CeFi and DeFi sectors fell 1.03% and 1.49%, respectively.

Notably, the Layer2 sector dropped 1.80%, with Arbitrum (ARB) down 2.74%. Broader indices reflected this volatility, as ssiNFT edged up 0.36%, whereas ssiAI and ssiRWA indices plunged by 8.73% and 7.71%.