DePIN Sector Leads Crypto Losses With a 7.31% 24-Hour Drop

DePIN posted the steepest loss among the listed crypto sectors, falling 7.31% over 24 hours through 9:01 p.m. ET Thursday, Nov. 5 (02:01 UTC Friday), as several component tokens recorded sharper declines and Bitcoin and Ether also traded lower at the latest snapshot.

Grass (GRASS) fell 14.32%, Filecoin (FIL) lost 8.47% and Render (RENDER) declined 5.72% over the sector’s 24-hour period. The sector’s drop was steeper than every other listed group.

All other listed groups also fell: DeFi declined 6.45%, meme tokens 5.88%, Layer 2 5.10%, PayFi 5.07%, Layer 1 4.06% and CeFi 3.63%. Ethena (ENA) fell 10.58% in DeFi, while Mantle (MNT) declined 8.79% in Layer 2 and SPX6900 (SPX) dropped 9.72% in the meme sector.

At 9:05 p.m. ET Thursday (02:05 UTC Friday), Bitcoin (BTC) was $76,077, down 5.75% over 24 hours, and Ether (ETH) was $2,238.78, down 7.88%. In the Layer 1 breakdown, NEAR Protocol (NEAR) declined 8.23%, while Injective (INJ) rose 2.94%.

Enna Lee

Enna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to [email protected].