Hyper

The cryptocurrency market sector saw a slight overall increase, with the DePIN sector leading with a rise of 4.32%, while AI Agents and the Hyperliquid ecosystem experienced significant corrections

According to ChainCatcher news and SoSoValue data, the cryptocurrency market sector has seen a slight overall increase, with the DePIN sector leading with a rise of 4.32%. Within the sector, Grass (GRASS) increased by 18.32%, Akash Network (AKT) rose by 15%, io.net (IO) gained 10.19%, and the leading project Render (RENDER) saw an increase of 5.78%, while Filecoin (FIL) rose by 3.20%.Notably, the previously hot AI Agents and Hyperliquid ecosystems have experienced significant pullbacks, dropping -3.25% and -9.53%, respectively. Within the AI Agents sector, tokens related to the Virtuals Protocol ecosystem have seen higher pullbacks, with VIRTUAL, AIXBT, GAME, LUNA, and VADER falling -5.91%, -17.34%, -18.20%, -17.97%, and -15.80%, respectively. However, within the sector, Fartcoin (FARTCOIN) has risen against the trend by 24.69%, showing impressive performance. Additionally, in the Hyperliquid ecosystem, HYPE, HFUN, and PURR have decreased by -9.32%, -3.84%, and -6.32%, respectively.In other sectors, the GameFi sector rose by 3.27%, with Gala (GALA) increasing by 8.17% and Beam (BEAM) rising by 6.33%. The Meme sector increased by 3.19%, the Layer 2 sector rose by 3.16%, the DeFi sector gained 2.80%, and the Layer 1 sector saw an increase of 2.41%.

Su Zhu: Hyperliquid is still in its early stages, and Solana/pump.fun has a moat

ChainCatcher message, Su Zhu posted on platform X stating: "Unless a black swan event occurs, I believe we are in the early stages of a super liquidity story, and the team has done an excellent job in designing a community around profitable products. There have been other successful perp trading platforms in the past, but these platforms often provide relatively little value accumulation for token holders. In some cases, tokens are directly used as emissions to generate dollar fees, which are pocketed by shareholders. This amounts to invisible dumping. In other cases, even if the token successfully generates a community, the usage of the underlying product itself is minimal. This defines most of the DeFi summer situation. Cases that have both are extremely rare.While centralized exchanges (CEX) have traditionally been extractive and opaque, often operated by founders from mainland China, high liquidity spot listings are simple auctions where value accumulation directly belongs to the tokens themselves. I think it is meaningless to discuss its idea as L1 before Hyperliquid truly launches, but I believe if the team continues to execute, it will pose the first significant challenge to recent memory's tier 1 CEXs. Overall, I think services and workflows will be simplified and purified, which will greatly benefit newcomers without legacy structures.I believe solana/pump.fun has a significant moat because all new attention is first attracted here. Competing with this will be extremely difficult, as what you need are thousands of permissionless launches every day, along with shared knowledge and beliefs, some of which will even reach billions of dollars. You cannot replicate this through a few pumps here or there or even community wealth effects—you need a culture and toolkit that has been gradually built around it. pump.fun is the worst in terms of crypto nativeness throughout the cycle (no points, no tokens) and the most profitable product, which is no coincidence, as it summons the energy of the external world into cryptocurrency."
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