While bitcoin treads water near $77,300, a rotation is quietly underway: derivatives-platform tokens and privacy coins are posting the week's standout gains. Hyperliquid's HYPE and LIT have surged 40% or more, driven by booming perpetual-futures volume and fee revenue that now accounts for over 40% of total marketwide fees according to DefiLlama. The catalyst was Trade.xyz listing a Space pre-IPO perpetual contract at a $1.78 trillion valuation — $30 million in volume on day one.
Privacy and quantum-resistant tokens — Zcash (ZEC), QRL, QTC, and Starknet's STRK — are up 6%–25%. The narrative has real institutional backing: Arthur Hayes has called privacy a fundamental necessity as AI and government surveillance accelerate, and Vitalik Buterin outlined concrete steps to bring privacy features to Ethereum this week. On the quantum front, Google researchers recently warned that a…
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