Bull Market Returns: NYSE Tokenization and the $HYPE Claude Meme
Crypto slides amid Trump tariff volatility as NYSE explores tokenized trading
Major cryptocurrencies traded lower after renewed market uncertainty tied to Donald Trump’s tariff announcements, with broad weakness also spilling into meme coins and onchain tokens.
Bitcoin fell 2% to $91,100, while Ethereum dropped 4% to $3,105. Solana was down 3% at $129 and XRP declined 2% to $1.93, according to the figures provided. Meme majors also moved lower, including Dogecoin (-1%), Shiba Inu (-1%), PEPE (-2%), TRUMP (-1%), Bonk (-1%), Pengu (-4%), SPX (-12%), WIF (-1%), and Fartcoin (-8%).
Despite the broader pullback, a few tokens posted gains. CC rose 12%, MYX added 5%, and SYRUP increased 4%. Among onchain movers, USOR (+70%), GSD (+50%), and Eliza Town (+800%) led the list.
In market structure developments, the New York Stock Exchange began preparations for 24/7 tokenized stock and ETF trading. The move signals continuing interest in bringing traditional assets onto blockchain-based rails, a theme that has been gaining traction as exchanges and issuers explore tokenization as a way to extend trading hours and potentially streamline settlement.
Flows in crypto-linked investment products were mixed. Bitcoin ETFs recorded $394 million in net outflows on Friday, breaking a four-day streak of inflows. Ethereum ETFs remained positive with $4.7 million in net inflows.
Corporate adoption also remained in focus. Steak ’n Shake disclosed roughly $10 million in Bitcoin exposure and said it has created a corporate BTC strategic reserve, adding to the list of companies holding Bitcoin as part of their treasury approach.
On the policy and governance side of the ecosystem, Ethereum co-founder Vitalik Buterin called for more sophisticated DAO governance models aimed at improving accountability, coordination, and long-term sustainability. Separately, Bermuda outlined plans for a fully onchain national economy, working with Coinbase and Circle on payments, identity, and tokenized financial infrastructure.
