As reported by SoSoValue, the cryptocurrency market has generally experienced a slight downturn since Donald Trump took office on January 20. Notably, the meme coin segment has faced a sharp decline, with values dropping around 15% by January 21.
Within the meme coin category, the Official Trump coin has seen a dramatic decrease of almost 40%, whereas Melania Meme has plunged by more than 66% in the last 24 hours.
DeFi and DeFAI sectors on the rise
Despite the overall market volatility, the DeFi and DeFAI sectors have demonstrated resilience, achieving significant gains.
Raydium has been at the forefront of the DeFi sector, recording a 24-hour increase of nearly 12%, bringing its price to $7.46 at the time of reporting. Nevertheless, the DeFi sector as a whole has experienced a minor decline, decreasing by 0.5% to $121 billion.
Conversely, the DeFAI sector, which integrates decentralized finance with artificial intelligence, has shown robust growth, with its total market capitalization increasing by nearly 15%, exceeding $2.8 billion. Aixbt by Virtuals and Griffain continue to dominate this sector, collectively representing almost 37% of the market cap.