HYPE, OM, and XCN Show Price Gains Amid Crypto Market Decline
Hyperliquid (HYPE)
Hyperliquid's HYPE token gained 15.8% this week, contrasting with the overall poor performance of L1 tokens. Key highlights:
- Trading volume reached $18.2 billion with ~$4 million in fees on Sunday.
- Established L1s like Cardano, Avalanche, and Algorand saw declines over 20%.
- Kava Network also reported a gain of 15.7%, focusing on AI integration.
MANTRA (OM)
The OM token increased by 27% this week. Notable points include:
- OM is linked to the MANTRA project, targeting institutional TradFi.
- Mainnet launched in October 2024; uses include staking, gas, and governance.
Onyx (XCN)
Onyx (XCN) rose 7% despite previous setbacks. Key information:
- XCN was previously involved in lending for fungible and non-fungible tokens.
- A $3.8 million exploit occurred in September 2024 leading to shutdown.
- Introduction of XCN Ledger, a new L3 blockchain utilizing the Arbitrum stack.
AI Agents
The AI agent sector experienced a significant drop, with current market cap at $8 billion down from ~$20 billion in January. Key trends:
- VIRTUAL down 24%, FARTCOIN down 22.5%, and AI16Z down 38.6% this week.
- Earlier predictions suggested market caps could reach up to $250 billion.