In the current crypto market downturn, Hyperliquid's HYPE token stands out with a notable 15.8% gain, supported by significant trading volumes and fees. Many Layer 1 (L1) tokens have faced steep declines, with others like Cardano, Avalanche, and Algorand suffering loses of over 20%. The Kava Network also defied the trend with a 15.7% increase as it pivots toward AI solutions. Meanwhile, the OM token from the MANTRA project surged 27% this week. MANTRA targets institutional finance with a focus on real-world assets and launched its mainnet in October 2024. Onyx (XCN) saw a 7% rise after announcing XCN Ledger, despite its recent struggles following a $3.8 million exploit. In contrast, the AI agent sector has faced severe contractions, dropping from a combined market cap of $20 billion to around $8 billion in a month, with leading tokens like VIRTUAL and FARTCOIN facing significant losses.

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