Grayscale: Hyperliquid-Led Financial Tokens Pull Ahead of Meme Coins

Grayscale said crypto markets are increasingly rewarding tokens with real fundamentals, with financial protocols led by Hyperliquid (HYPE) outperforming meme coin-heavy consumer tokens. According to BeInCrypto, Grayscale attributes the split to a bear market and rising institutional adoption, which it says are separating revenue-generating projects from speculative tokens. Grayscale cited its FTSE Russell-built Crypto Sectors framework, which tracks 150+ protocols and is reassessed quarterly. Since the start of 2024, its Financials Crypto Sector is up about 15% versus a roughly 75% drop in Consumer & Culture. Grayscale said Dogecoin (DOGE) now makes up around 85% of the lagging sector’s market value.