- HYPE rose 15.77% as ICE backed plans for U.S. futures on Hyperliquid infrastructure.
- TRX rose about 3%, while Q3 research put TRON’s stablecoin volume share at 73%.
- Zcash rose as its ETF recorded 8 straight days of inflows, while the upcoming upgrade added to market interest.
Hyperliquid (HYPE) rose 15.77%, TRON (TRX) gained about 3%, and Zcash (ZEC) edged up 0.51%, even as the broader altcoin market declined. The three tokens saw support from different developments, including an institutional infrastructure deal for Hyperliquid, TRON’s stablecoin settlement activity, and Zcash’s ETF demand and approaching network upgrade.
CoinMarketCap’s Altcoin Season Index stood at 44, down from 51 a week earlier and 60 a month earlier. Although the index recovered slightly from the previous day’s reading of 42, it remained below the 75 threshold that signals altcoin season.
Hyperliquid Rises After ICE Agreement
HYPE stood at $91.45, with $3.74 billion in 24-hour volume and a $23.19 billion market capitalization, according to CoinMarketCap. It ranked ninth by market capitalization, one position ahead of Zcash.
This comes following the reports that Intercontinental Exchange, which operates the New York Stock Exchange, agreed to support Trade[XYZ] in developing U.S. perpetual futures markets using Hyperliquid infrastructure.
ICE will operate the regulated market and clearing structure, while Trade[XYZ] designs the markets. The proposal remains subject to regulatory approvals. Stanley Druckenmiller also publicly disclosed a stake in Trade[XYZ].
Hyperliquid’s Assistance Fund also converts its allocated transaction fees into HYPE purchases. Protocol documentation says those tokens are burned, reducing the circulating and total supply.
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TRON Advances Alongside Stablecoin Activity
TRON’s rise coincided with continued activity on its stablecoin settlement network. According to the third-quarter research report, it accounted for about 73% of stablecoin volume, with more than $92 billion in USDT on the blockchain.
TRON’s network activity also has implications for TRX’s token supply. The network burns TRX paid as transaction fees, removing tokens from circulation.
Zcash Draws ETF Demand Ahead of NU7
Zcash (ZEC) traded at $1,248.95, with $1.65 billion in 24-hour trading volume and a market capitalization of $21.16 billion. Meanwhile, the Zcash ETF recorded eight consecutive days of inflows, including $14.81 million on October 29. Its cumulative net inflows reached $226.08 million.
The NU7 mainnet upgrade is scheduled for November 5, 2026. It will reduce the target block. For users sending ZEC, the planned reduction in block intervals would shorten the expected wait for their payments to receive an initial network confirmation.
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