Altcoin Market in Motion: Bitcoin Cash Surges Double Digits, Hyperliquid Plans Billion-Dollar Burn

Bitcoin Cash Posts Significant Price Increase

Bitcoin Cash (BCH) ranks among the current biggest price gainers in the crypto market with a surprising surge. Compared to the previous day, the altcoin has gained around ten percent, with gains over the past 30 days totaling approximately 18 percent ^[1]. This makes Bitcoin Cash clearly stand out from the currently sluggish market environment.

The price rally follows a familiar pattern in which capital periodically flows back into older, so-called "dino-coins" – an effect that was also observed with Zcash in recent weeks ^[1].

Notable On-Chain Movements in the Ethereum Ecosystem

Significant on-chain transactions in the Ethereum ecosystem drew attention. A wallet inactive for roughly nine years, attributed to ShapeShift founder Erik Voorhees, sold a total of 4,619 ETH worth approximately $13.4 million over the past two weeks ^[1]. The proceeds were apparently converted entirely into Bitcoin Cash – approximately 24,950 BCH ^[1].

From a technical chart perspective, Bitcoin Cash is showing a clear short-term upward movement. Over the past 12 to 24 hours, the price fluctuated between a high of $597.00 and a low of $536.70 ^[1]. The current closing price stands at $587.60, roughly $50 above the previous day's level ^[1].

Hyperliquid Plans Massive Token Burn

The Hyper Foundation has introduced a far-reaching proposal that could drastically reduce the circulating supply of HYPE ^[3]. Up for vote is whether HYPE tokens worth nearly one billion US dollars should be permanently removed from circulation ^[3].

Specifically, this involves approximately 37 million tokens currently held in the "Assistance Fund." This represents more than 13 percent of the total circulating supply ^[3]. The fund automatically collects trading fees from the blockchain but has no private key, which is why the tokens are "mathematically irrecoverable" anyway, according to the foundation ^[3].

Cantor Fitzgerald Sees $200 Billion Potential

Meanwhile, a new report from Cantor Fitzgerald is generating attention on Wall Street. The financial services firm published a 62-page analysis of Hyperliquid and projects a market capitalization exceeding $200 billion in a ten-year model ^[3].

This valuation is based on the assumption that the protocol generates five billion dollars in annual revenue, to which the analysts apply a 50x multiplier ^[3]. Additionally, Cantor initiated coverage for the ecosystem tokens PURR and HYPD with an "Overweight" rating, signaling expected outperformance ^[3].

Hoskinson Criticizes Politicization Through TRUMP Meme Coin

Cardano founder Charles Hoskinson sharply criticized Donald Trump's TRUMP meme coin and the Trump family's crypto activities. "The moment Trump Coin launched, it went from 'crypto is bipartisan' to 'crypto equals Trump equals bad, equals corruption,'" Hoskinson told Decrypt ^[2].

Trump launched the OFFICIAL TRUMP (TRUMP) meme coin before his inauguration in January. The token exploded at launch but then collapsed and has now fallen by more than 82 percent ^[2]. Hoskinson warned that most in the crypto industry are afraid to speak out on the issue for fear of losing access to policymakers ^[2].

"We were told: 'Keep quiet about it. Say nothing, because you'll lose access. You can never meet with the president, you can't be involved in the legislative process or any of that,'" he said ^[2]. Despite the risk of conflict from his criticism, he does not regret his decision: "Even if I could influence policy a little bit, from an integrity policy standpoint, it's just not worth it. Just call a spade a spade" ^[2].