• Hyperliquid holds strong futures interest with a 24.31% funding rate, despite a 40.68% drop in spot volume.

  • Helium sees reduced activity across both spot and futures markets, reflecting cooling interest in DePIN assets.

  • Jupiter maintains solid derivatives engagement, with $250M in futures volume and $81.3M open interest, despite lower spot trading.

The broader cryptocurrency market is seeing renewed attention following Nano Labs’ $9.4 billion acquisition, sparking renewed interest in alternative tokens. As institutional sentiment appears to shift, certain altcoins have shown notable activity across volume, price movements, and futures engagement. Among the most watched are Hyperliquid (HYPE), Helium (HNT), and Jupiter (JUP), each demonstrating unique trading behaviors amid the renewed capital inflows.

Hyperliquid Sees Sharp Volume Pullback, But Maintains Derivatives Strength

Hyperliquid (HYPE), a decentralized exchange token, has recorded a 1.55% decline in price over the past 24 hours, trading at $37.23. The token's spot volume has decreased by 40.68%, down to $45.76 million, suggesting a reduction in short-term trading interest. The decline in volume coincides with a broader market pullback, indicating possible profit-taking after recent gains.

Despite this short-term correction, HYPE remains structurally strong. It holds a market capitalization of $12.36 billion and a circulating supply of approximately 333.9 million tokens out of a maximum of 1 billion. On-chain metrics also show continued interest in derivative markets, with $279 million in futures trading volume and $222 million in open interest. The token’s annualized funding rate sits at 24.31%, reflecting bullish sentiment among leveraged participants.

Helium Drops as Activity Slows Across the DePIN Ecosystem

Helium (HNT), a Layer-1 blockchain project focused on decentralized wireless infrastructure, has seen its price decline by 2.69% to $2.21. This move was accompanied by a significant 53.23% drop in 24-hour spot volume, which now stands at $4.06 million. The steep decline in volume reflects cooling demand for HNT following recent periods of growth across the decentralized physical infrastructure (DePIN) sector.

Helium’s market capitalization currently stands at $406 million, supported by a circulating supply of 184 million out of a total of 223 million tokens. In contrast to other assets, HNT's futures market participation remains relatively muted. Open interest is limited to $5.38 million, while the annualized funding rate is 0.88%, signaling lower speculative interest at present. The token’s recent decline appears in line with a broader trend of sell-side pressure across mid-cap altcoins.

Jupiter Shows Stability Despite Pullback in Volume

Jupiter (JUP), a decentralized exchange aggregator on the Solana blockchain, is fetched at 0.411 with a slight decline of 1.35 percent. The retreat comes after a bout of optimistic improvement, which indicates that market players have to engage in some profit-taking. The daily spot volume of the token has fallen by 49.07% to be at 38.37 million, which shows that there was less activity on the token as the traders calculate the direction of the market.

Jupiter is a powerful player in the DeFi industry with a market capitalization of 1.21 billion dollars and a circulating supply of 3 billion. As per the future metrics, there appears to be continued speculative interest, with daily volume at 250 million and open interest of 81.3 million. The 4.1 percent annualized government bond rate indicates a relatively unaggressive bullish trend among derivative traders. The lower level of spot trade relative to stable participation in futures argues that Jupiter remains relevant to players in the active market.

Increased Attention Given to Altcoins in the View of Institutional Interest

The recent boom in the altcoin has been accompanied by news of a Nano Labs buyout worth $9.4 billion, which brings newfound excitement to the digital asset environment. This acquisition has changed the focus to tokens with sound infrastructure, increased adoption, and continued trading. Although there is some broader market volatility in a play, HYPE, HNT, and JUP measure up and allude to particular accumulation by market members.