What happened?
The crypto market slid for a third straight day, with the DePIN sector plunging more than 7% and major tokens like Render and Filecoin falling over 7%. Bitcoin dropped about 2.19% to below $109,000 and Ethereum dipped under $4,000, while other sectors like DeFi, CeFi, and Layer1 fell roughly 3–4%. Broad sector indices such as ssiDePIN, ssiAI, and ssiGameFi all declined, though a few pockets like Zora in Layer2 bucked the trend with an 18% gain.
Who does this affect?
This hits crypto investors and traders, especially anyone holding DePIN tokens or exposed to Layer1 and DeFi positions. Projects and developers in the decentralized physical infrastructure space may face reduced token liquidity and valuation pressure, which can make fundraising and partnerships harder. Institutions and retail participants watching market signals could see increased volatility and potential margin calls as prices move lower.
Why does this matter?
A continued sell-off can erode market confidence and push investors into a risk-off stance, dragging down correlated crypto assets. Falling token prices reduce TVL and can slow investment and adoption in emerging sectors like DePIN and AI tokens, delaying infrastructure and product development. If key assets like Bitcoin and Ethereum remain below psychological levels, it can shift capital flows, affect derivatives positioning, and change the timing of big trades or institutional rebalancing.