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DeFi Sector Leads Crypto Decline With 5.22% Drop in 24 Hours

DeFi Sector Leads Crypto Decline With 5.22% Drop in 24 Hours

The crypto market showed a mild recovery led by Bitcoin, CeFi, and BNB gains, while sector performance diverged ahead of the Federal Reserve’s decision.

BTC
ETH
BNB

Summary

The crypto market recovered slightly on September 17, with Bitcoin rising 1.33% to above $116,000. Ethereum slipped 0.44% near $4,500, while CeFi gained 3.16% and BNB hit a record high above $960. Layer 2 tokens advanced 3% led by Mantle, and GameFi, Layer 1, PayFi, DeFi, and Meme sectors also posted gains, with SocialFi as the only declining segment.

Terms & Concepts
  • CeFi: Centralized Finance, referring to crypto services managed by centralized institutions such as exchanges.
  • Layer 2: Scaling solutions built on top of a blockchain (usually Ethereum) to increase transaction speed and reduce costs.
  • BNB: Binance Coin, the native token of Binance, used for transactions, payments, and ecosystem support.