Ethena’s ENA token rallied 48% after a $1 billion FalconX deal. HYPE is also testing its record level, but flat market dominance suggests the move is still limited to a few tokens rather than a broad altcoin rotation. The report, published by CoinDesk on August 21, frames the rally as selective strength, not the start of a full alt season.
Ethena’s ENA token rose 48% on the back of a $1 billion FalconX deal.
HYPE is also testing its record level, but flat market dominance suggests this is not yet a broad altcoin season.
In CoinDesk’s market analysis, the strength appears concentrated in a few names rather than spread across the wider crypto market.
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