The crypto market continued to pull back, with the PayFi sector leading the decline by 4.37%, while the CeFi sector and BTC remained relatively strong

PANews reported on May 16 that according to SoSoValue data, the crypto market continued to pull back, with the PayFi sector leading the decline by 4.37% in 24 hours, of which XRP fell by 5.28%, but Bitcoin Cash (BCH) rose by 0.63%. The CeFi sector was relatively strong, rising by 1.13% in 24 hours. Within the sector, Bitget token (BGB) and Hyperliquid (HYPE) rose by 3.31% and 4.75% respectively.

In addition, Bitcoin (BTC) rose 1.12% in 24 hours to above $104,000, while Ethereum (ETH) fell 0.05% and fluctuated narrowly around $2,500.

In other sectors, the Layer1 sector fell by 0.23%, but Binance Coin (BNB) and Sui (SUI) rose by 1.01% and 1.33% respectively. The DeFi sector fell by 1.78%, and Raydium (RAY) surged 4.22% during the session; the Meme sector fell by 2.60%, and Fartcoin (FARTCOIN) and Mog Coin (MOG) rose by 2.48% and 6.94% respectively; the Layer2 sector fell by 3.88%, and Movement (MOVE) fell by 9.34%.