On July 8, according to data from SoSoValue, the crypto market saw a broad pullback following several days of gains. The SocialFi sector led the decline, dropping 4.02% over the past 24 hours, with Toncoin (TON) down 4.21% and Chiliz (CHZ) down 3.48%. Bitcoin (BTC) fell 1.40%, briefly surpassing $109,000 before retreating to around $107,000. Ethereum (ETH) declined 1.69%, pulling back to the $2,500 level.

Across other sectors, the PayFi sector dropped 0.86%, with Monero (XMR) and Telcoin (TEL) down 3.01% and 3.32%, respectively. The CeFi sector slipped 1.00%, with Hyperliquid (HYPE) falling 5.07%. The Layer1 sectordeclined 1.66%, with Sui (SUI) down 3.04% and Avalanche (AVAX) down 3.52%. The DeFi sector dropped 2.07%, with Aave (AAVE) and Ondo Finance (ONDO) down 3.05% and 3.20%, respectively. The Layer2 sector fell 2.58%, led by Celestia (TIA), which dropped 5.28%. The Meme sector declined 3.44%, with SPX6900 (SPX) and Fartcoin (FARTCOIN) plunging 8.32% and 8.63%, respectively.

Crypto sector indices reflecting historical performance showed 24-hour losses of 4.18% for ssiSocialFi, 4.07% for ssiNFT, and 3.91% for ssiAI.

Crypto Market Pulls Back; SocialFi Leads Decline with Over 4% Drop, BTC Falls Below $108K