Amid a general market decline, HYPE and TRX bucked the trend and strengthened: funds are seeking new trading opportunities.

In the early hours of October 30, Binance's multi-chain hot wallet experienced a large-scale abnormal outflow, with the official initial estimate of the impact being approximately $6.3 billion, of which about $3 billion has been frozen. Following the news, the cryptocurrency market came under pressure, with BTC briefly falling below $78,000. Major cryptocurrencies such as ETH, BNB, SOL, and XRP also weakened, the fear index dropped to around 30, and the scale of liquidations across the network increased significantly. However, amid a general market correction, some assets have bucked the trend and moved independently: HYPE: Up about 15%–18% in 24 hours, with the price once breaking through $90. The main catalyst came from ICE, the parent company of the NYSE, announcing a partnership and investment in Trade[XYZ] with plans to launch regulated perpetual contract products based on Hyperliquid technology. In addition, concerns about the security risks of centralized trading platforms have further increased market attention to the on-chain Perp DEX. TRX: Up about 5%–9% in the last 24 hours, priced around $0.35. The short covering driven by negative funding rates in the derivatives market may be one of the factors that has fueled the short-term rise, making it one of the few cryptocurrencies among the top-valued assets to buck the trend and strengthen. Meanwhile, tokens such as UNI, ENA, PEPE, and LINK, which are suspected of involving abnormal asset transfers, are under greater selling pressure and have experienced relatively significant short-term declines. Overall, this round of market adjustment not only reflects a contraction in risk appetite, but also shows obvious structural differentiation: mainstream assets are generally under pressure, but individual stocks with independent positive factors or capital game logic are still strong. As of press time, market conditions have been highly volatile. Please refer to real-time market data for specific prices and price increases. For further updates, please refer to Binance's official announcements. This article does not constitute investment advice.