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%.