Data: The cryptocurrency market generally rose, with the Meme sector up over 5%, while the SocialFi sector has declined for two consecutive days

ChainCatcher news, according to SoSoValue data, the Federal Reserve cut interest rates by 25 basis points, restarting the rate cuts that had been paused since last December, and expects an additional 50 basis points of rate cuts this year.

As a result of this positive news, the crypto sector generally rose, with the Meme sector increasing by 5.09% in 24 hours. Within this sector, MemeCore (M) surged by 18.49%, and Pump.fun (PUMP) rose by 7.13%. Additionally, Ethereum (ETH) increased by 2.26%, breaking through $4600. However, Bitcoin (BTC) slightly decreased by 0.05%, maintaining around $116,000. Meanwhile, MAG7.ssi rose by 2.37%, DEFI.ssi increased by 2.63%, and MEME.ssi rose by 5.06%.

Other standout sectors included: the NFT sector, which increased by 4.48% in 24 hours, with Pudgy Penguins (PENGU) rising by 10.11%; the AI sector rose by 3.79%, with Fartcoin (FARTCOIN) increasing by 8.56%; the DeFi sector rose by 3.68%, with MYX Finance (MYX) surging by 27.85%.

In other sectors, the Layer1 sector rose by 3.64%, with Avalanche (AVAX) increasing by 8.43%; the CeFi sector rose by 3.08%, with Binance Coin (BNB) increasing by 3.18%, briefly approaching the $1000 mark, setting a new historical high, and APX surged by 377.12%; the Layer2 sector rose by 1.88%, with Arbitrum (ARB) increasing by 5.27%; the PayFi sector rose by 1.66%, with Bitcoin Cash (BCH) increasing by 3.82%. Additionally, the SocialFi sector fell for two consecutive days, dropping another 0.08% in 24 hours, with Toncoin (TON) decreasing by 0.44%. The crypto sector indices reflecting historical performance showed that the ssiNFT, ssiAI, and ssiMeme indices rose by 6.36%, 4.83%, and 4.68%, respectively.