Crypto derivatives and privacy coins surge; Bitcoin stagnates

While major cryptocurrencies like Bitcoin and Ether have seen minimal price movement, specific sectors within the crypto market are experiencing significant growth. Tokens tied to perpetual futures derivatives platforms, such as Hyperliquid's HYPE, have surged over 40% due to increased onchain trading volumes and substantial fee revenue. Concurrently, privacy-focused and quantum-resistant coins like Zcash and Starknet are also climbing, driven by investor demand for clear use cases amid growing concerns about surveillance, AI, and potential future quantum attacks on blockchain technology. This divergence highlights a market favoring specialized applications over broader cryptocurrency trends.