Altcoin selling pressure in the cryptocurrency market has reached its highest level in five years. According to on-chain data, over the past 13 months, selling volume in the altcoin market, excluding Bitcoin and Ethereum, has exceeded buying volume by approximately $209 billion.

Market participants are interpreting this trend not merely as a bearish signal but as a selective movement of capital. Funds are concentrating on projects with real utility and revenue models rather than broad-based altcoin rallies.

Amid this trend, the decentralized derivatives exchange Hyperliquid has emerged as a primary beneficiary. It is garnering market attention by sustaining trading volume growth and an increasing user base. Recently, the HYPE token demonstrated strength, trading around $72.

Investors are increasingly tending to evaluate project value based on empirical data such as trading volume, fee revenue, and on-chain activity metrics rather than mere speculation, and Hyperliquid is receiving relatively high marks against these criteria.

Experts project that the future success or failure of the altcoin market will depend on network utilization and revenue-generating capabilities rather than expectations of price appreciation. The industry is noting that even amid a broader altcoin market slump, Hyperliquid is securing a tangible user base and liquidity.

[This is an AI-assisted article. The information provided is for general guidance only, and final judgment and decisions require personal responsibility and careful consideration. For important matters, it is recommended to seek expert advice before making a decision. This publication assumes no responsibility.]