Crypto Market Slightly Pulls Back, BTC Trades Sideways, AI Sector Remains Resilient

BlockBeats News, May 12th, according to SoSoValue data, the cryptocurrency market experienced a slight pullback after a continuous uptrend, with Bitcoin (BTC) rising above $105,000 and then pulling back to around $104,000, still up 0.11% in the past 24 hours.

Ethereum (ETH), after a three-day consecutive increase last week, started to retreat, down 0.82% in the past 24 hours, but still holding above $2,500. In addition, the AI sector showed relative strength, with AIXBT, Virtuals Protocol (VIRTUAL), and ai16z (AI16Z) rising by 8.32%, 8.76%, and 10.48% respectively. Meanwhile, the Cryptocurrency Sector Index reflecting historical sector performance showed that the ssiAI Index was up 0.11% in the past 24 hours.

Of note, although the Meme sector was down 0.17% in the past 24 hours, some tokens within the sector performed well. Among them, Pepe (PEPE), dogwifhat (WIF), PNUT, and MOO DENG (MOODENG) saw counter-trend gains of 10.35%, 13.74%, 29.96%, and 132.67%, respectively.

In other sectors, the Layer1 sector was down 0.08% in the past 24 hours, with TRON (TRX) and Kaspa (KAS) rising by 1.21% and 8.33% within the sector, respectively; the PayFi sector was down 0.97%; the DeFi sector was down 1.16%; the RWA sector was down 1.18%, with Plume (PLUME) showing relative strength with an intraday spike of 7.19%; the CeFi sector was down 1.32%; the Layer2 sector was down 2.59%, but Mantle (MNT) saw a 2.08% increase.