The cryptocurrency market saw multiple headwinds last week, resulting in a large decline in market value. However, a few coins overcame the slump to post significant gains.
What happened: HYPE, the native token of the decentralized exchange Hyperliquid, topped the biggest gainers list, rallying 7.5% over the week. The coin accumulated massive gains of 586% over the last year
Hyperliquid is a decentralized trading platform that utilizes its own Layer-1 blockchain.
Ethereum (CRYPTO: ETH)-based DEXE token was the second-highest gainer, marginally trailing HYPE in weekly returns. Like HYPE, DEXE was coming off a successful 2024, with a 625% increase over the year.
DeXe is the governance token of the DeXe Protocol—a tool used for creating and governing decentralized autonomous organizations.
Similarly, OM, the token associated with the layer-1 blockchain MANTRA, rallied over 6% to become the third-most cryptocurrency in the last 24 hours. The cryptocurrency hit a record high of $5.87 last week and is one of the few to record sizable year-to-date gains, at nearly 29%.
| Cryptocurrency | Gains +/- | Price |
| Hyperliquid (HYPE) | +7.56% | $22.58 |
| DeXe (CRYPTO: DEXE) | +7.41% | $21.22 |
| MANTRA (CRYPTO: OM) | +6.28% | $4.97 |
Elsewhere, the market didn’t paint a rosy picture. Blue-chip coins like Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) sank 7.11% and 20.56%, respectively.
XRP (CRYPTO: XRP) and Solana (CRYPTO: SOL) also corrected sharply on Sunday, bringing their weekly losses to 26.56% and 15.25%.
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XRP (CRYPTO: XRP) and Solana (CRYPTO: SOL) also corrected sharply on Sunday, bringing their weekly losses to 26.56% and 15.25%.
Meme coin heavyweights also bled profusely, with Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) falling 28.93% and 19.65%, respectively.
Two significant events jolted capital markets last week. First, China’s groundbreaking AI model DeepSeek threatened the supremacy of U.S.-based IT behemoths, and second, President Donald Trump’s tariff conflict with neighboring countries such as Canada and Mexico.
Overall, the total cryptocurrency market capitalization fell 11.66% over the week to $3.03 trillion.
Photo by CMP_NZ on Shutterstock
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