Altcoin market: Price rally of Ethena, Hyperliquid and Worldcoin

• At the start of the week, the crypto market remains largely unchanged. Bitcoin remains at just over $110,000, and Ethereum is trading at around $4,300. Behind the facade of these two heavyweights, however, one or two altcoins are shining brightly, posting enormous price gains thanks to fundamental developments.
• First, on September 5, the Ethereum treasury company StablecoinX announced that it had raised an additional $530 million for ENA purchases through a PIPE financing round. ENA is therefore up more than 20 percent over the past seven days.
• Stablecoin company Paxos has also submitted a proposal for the launch of USDH, which aims to be the first hyperliquid stablecoin to be fully compliant with both the US GENIUS Act and the European MiCA regulation.
• According to the announcement published on Saturday, 95 percent of the interest generated from USDH reserves would be used to buy back Hyperliquid's native token. This allowed HYPE to rise back to just under $50, less than $2 below its all-time high.
• Rob Hadick, General Partner at crypto VC Dragonfly, emerged as a Circle bear given the importance of Hyperliquid to the USDC issuer.

Wonder if the market has yet realized that Circle's biggest growth engine and likely ~10% of its net revenue is at significant risk this week pic.twitter.com/gpw76Y1Tte

— Rob Hadick ＞|＜ (@HadickM) September 7, 2025

• Worldcoin is also currently outperforming the competition. The token has risen by more than 25 percent in the past 24 hours, and over the past seven days, it's up almost 50 percent.
• However, unlike Hyperliquid and Ethena, the performance is driven less by actual news than by speculation about a WLD treasury company.
• The memecoins SPX6900, Dogecoin, and Bonk also rose by 6 to 10 percent in the last 24 hours. However, the much-hyped altcoin season is still out of the question – Bitcoin dominance remains at a relatively high level at over 58 percent.
• Current inflation data from the US as well as the ECB's latest key interest rate decision are likely to significantly influence the price development of Bitcoin and Co. this week.

Recommended Video: Bitcoin and Ethereum Strategies in Focus: Are Treasuries Good for Crypto?