Ethereum and Hyperliquid pulled ahead

$ETH climbed 71.0% to $2,684, while Bitcoin rose 42.7% to $83,576. That made Ethereum the standout among the majors, and it ended a three-quarter losing streak for the token. The shift had been visible since July, when $ETH was already outrunning Bitcoin, up about 22% for the month against roughly 9%. Fund flows helped. US spot $ETH ETFs took in $3.1 billion, reversing all of the first half’s outflows. Yet $ETH’s average daily trading volume dropped 23.2% to $11.5 billion, and the anticipated Glamsterdam upgrade missed the quarter.

Hyperliquid’s HYPE made the sharper move. It rose 40.5% in four days to $82, a record at the time, after President Donald Trump said on August 19 that CFTC Chair…