Robinhood Chain leads crypto sector losses, tumbling 9.47% in 24 hours

  • Robinhood Chain recorded the steepest 24-hour decline among crypto sectors.
  • Robinhood Chain fell 9.47%, while Pons dropped 16.30% and Cash Cat 12.05%.
  • Robinhood Chain transactions fell 17.4%, with $174 million in seven-day net cross-chain outflows.

Crypto sectors broadly declined on Sept. 10, with the Robinhood Chain sector falling 9.47% over 24 hours, according to SoSoValue data. Pons (PONS) dropped 16.30% and Cash Cat (CASHCAT) fell 12.05% after earlier sharp gains. Daily on-chain transactions on Robinhood Chain were down 17.4% from the same day a week earlier, while the ecosystem recorded about $174 million in net cross-chain outflows over the past seven days. The decline came amid the continued escalation of the U.S.-Iran conflict, a U.S. Treasury buyback program that fell short of expectations and volatility surrounding Hunter Biden's Laptop (LAPTOP), a meme coin launched by Hunter Biden. The RWA (real-world assets) sector fell 7.36%, while PayFi, Layer1, CeFi, DeFi, Layer2 and Meme sectors also declined. Zcash was a notable gainer, rising 3.34%, while LAPTOP rebounded 73.32% after plunging and was quoted at $0.844. SoSoValue's sector indexes for RWA, AI and Meme assets fell 7.36%, 6.38% and 5.98%, respectively.

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