Cryptocurrency markets came under further pressure this week as the sell-off extended to some of the largest digital asset vaults (DATs) in the industry. As of Friday, Bitcoin (BTC) had fallen below $60,000 for the first time since 2024, Ethereum (ETH) was trading at around $1,550, and Hyperliquid (HYPE) was trading near $57.
While the declines affected the broader market, the impact was most pronounced in large treasury companies linked to BTC and ETH – specifically Strategy (MSTR) and Bitmine (BMNR).
However, Hyperliquid (PURR) strategies continued to see gains on an unrealized basis, highlighting how they continue to outperform key benchmarks in the market.
Hyperliquid Strategies avoids the worst with $1.2 billion gains
According to Artemis data, Strategy and Bitmine each carry significant unrealized losses of approximately $12.8 billion and $10.3 billion, respectively. In contrast, Hyperliquid strategies are positioned differently.
Artemis Data additional It notes that Hyperliquid Strategies is the only major digital asset treasury firm in the industry so far that remains in positive territory, with approximately $1.2 billion in unrealized gains, as shown in the chart below.
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In practical terms, this means that the pressure seen on most cryptocurrency-related balance sheets has not affected Hyperliquid in the same way, even as prices have fallen sharply elsewhere.
The weakness also reached other major shareholders other than the top two names. Loconchine Data The latest tracking shows that it has extended further, with SharpLink down $1.59 billion on ETH, and Metaplanet down $1.38 billion on BTC.
The pattern is consistent: As Bitcoin and Ethereum decline, companies concentrated in those assets tend to reflect the decline in their market reports or unrealize.
BTC and ETH weekly decline hits MSTR and BMNR stocks
Bitcoin’s movement was especially noticeable on the weekly chart. The asset registered a significant 20% correction on the weekly time frame, and this broader decline has extended to stocks and crypto dealers as well.
strategic stocks, MSTRwas down 14% on Friday alone, trading at around $115 a share. Bitmine stock, BMNR, also posted double-digit losses on Friday, down 12% to about $15.76 per share, adding to the pressure on investors.
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Hyperliquid’s native token, HYPE, saw a sharp decline during the same period, falling by 14%. Even with this pullback, Hyperliquid Strategies’ PURR price has shown relatively limited movement, with only a 1.2% rebound to $8.3 for the current trading session.
Together, these snapshots underscore a clear difference: while the strategy and Bitmine reflect withdrawals Bitcoin and Ethereum Straight through large unrealized losses, Hyperliquid strategies remain relatively resilient, maintaining positive unrealized performance even with market sell-offs.
Featured image created with OpenArt; Chart from TradingView.com
