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Tokens buck the slump
A handful of tokens including Hyperliquid’s HYPE, Uniswap’s UNI and Worldcoin’s WLD posted double-digit gains while bitcoin and most of the crypto market drifted lower after an early week bounce.
“Hyperliquid, Uniswap and Worldcoin buck crypto slump as traders chase AI, DeFi trends A handful of tokens continued their run while bitcoin and the rest of the crypto market stalled after the early week bounce”
CoinDesk said HYPE surged as much as 13% to a fresh record above $76 before paring some gains, and it reported that HYPE is now up nearly 200% in 2026.
Pluang said HYPE experienced a significant 12% increase in value within 24 hours, reaching approximately $75, and it said the rally brings the token very close to its all-time high.
Pluang also said Hyperliquid’s HYPE retested its all-time high of $76 and that the move was driven by the launch of three U.S.-listed ETFs and improved market sentiment following the end of the U.S.-Iran conflict.
AI and DeFi narratives
CoinDesk linked Worldcoin’s WLD to renewed enthusiasm around AI-related investments, saying WLD gained 12% and that the project is co-founded by OpenAI CEO Sam Altman.
CoinDesk also said Uniswap’s UNI token surged another 18% after Standard Chartered initiated coverage with a highly bullish long-term outlook on the protocol.
Pluang framed Hyperliquid’s rally as a momentum shift, saying it was driven by improved market sentiment after the end of the U.S.-Iran conflict and by the launch of three U.S.-listed ETFs.
CoinDesk added that Geoffrey Kendrick, the bank’s head of digital asset research, argued that decentralized finance (DeFi) could become one of crypto’s biggest growth stories as tokenized stocks, bonds and other traditional assets move onchain.
Volumes and outlook
CoinDesk reported that in May combined exchange volumes fell 3.45% to $4.41T, the lowest since September 2024, while RWA perpetual futures volumes rose 10.4% against the trend to a new all-time high.
“Hyperliquid, Uniswap and Worldcoin buck crypto slump as traders chase AI, DeFi trends A handful of tokens continued their run while bitcoin and the rest of the crypto market stalled after the early week bounce”
CoinDesk said RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high, even as broader exchange activity cooled.
Pluang said trading volumes surged 140% to $2 billion, reflecting increased investor interest during the HYPE rebound.
Pluang also quoted crypto analyst Kevin Capital forecasting the next cryptocurrency bull cycle will surpass the previous one, with altcoins set to outperform Bitcoin after years of lagging behind.
