$JUP And $HYPE: The Altcoins Defying Gravity Amid A Market-Wide Downturn

A market-wide downtrend is hitting the cryptocurrency hard, with many major digital coins down since the weekend, but two altcoins are rising above the challenge, logging small but registering unquestionable gains even when Bitcoin, the world's top digital currency, is in the red.

The entire crypto market is down by over 1% in the day, and while some altcoins – digital assets beyond Bitcoin – are already making small recoveries The market is still bleeding, and crypto holders are feeling the heat.

There are concerns that the downtrend will persist just about a week after BTC logged a new all-time high at $108,786. On the other hand, two altcoins are holding the green line, indicating that there's a good chance a reversal is on the way.

$JUP – Top Smart Money Buy

Jupiter (JUP), the native token of the Jupiter exchange, which is building the "best decentralized trading platform" in the crypto space, was up by nearly 17% late Monday night.

The digital coin had been on a 31% spike in the past seven days and is gaining more and more attention in the crypto community on X, often dubbed as CT (Crypto Twitter).

Stalkchain, which tracks token movements and provides insights, revealed late Monday that JUP was "the most bought token by smart money" in the last 24 hours.

Other popular crypto coins and memecoins were not even close to the numbers JUP logged, including POPCAT and MICHI.

Cloudz, a prominent member of the "Jupiverse," the decentralized metaverse powered by Jupiter, posted a photo that showed the extent of the bloodbath within the crypto space Monday, but JUP wasn't affected and instead was gaining.

Well-followed trader Jack.poor also had a similar take on Monday's red wave: "Amidst the sea of red, $JUP is shining green!" he wrote.

The significant rally around the JUP token Monday came after Jupiter's Catstanbul 2025 event wherein major announcements were made, including Jupiter's majority stake acquisition of memecoin buy-and-sell platform Moonshot.

$HYPE – A New ATH Soon?

Hyperliquid (HYPE), the native cryptocurrency of the decentralized exchange (DEX) Hyperliquid, was also making significant gains Monday, climbing by nearly 12% overnight.

Some crypto users are expecting HYPE to possibly attempt at hitting a new all-time high (ATH). The token's ATH was logged in December, at $34.96. Trading volume around the token passed $252 million, suggesting much activity around the altcoin.

Controversial and well-followed crypto figure Ansem, has chosen to go long on HYPE in the first quarter of 2025, suggesting that even big names in the industry are getting drawn to the altcoin.

Meanwhile, some major digital currencies are starting to recover as of early Tuesday, but their gains are a far shot from those that JUP and HYPE stacked in the last day.

It remains to be seen whether the two altcoins will continue to defy gravity and potentially kick off a rally in the broader market.