A rotation out of chipmakers lifted much of the stock market, with the equal-weight S&P 500 at a record. Crypto was not part of it. Ether fell 8% on the week and the memecoins dropped harder.
Source: CoinDesk
Dogecoin and Hyperliquid's HYPE led weekly crypto losses as AI stocks lure buyers
Dogecoin and Hyperliquid's HYPE token were at the forefront of weekly losses in the cryptocurrency market, reflecting a broader downturn. Despite this, investor interest has shifted towards AI stocks, which have been attracting significant attention and capital. The volatility in the crypto space has raised concerns among traders, as major tokens struggled to maintain value amid increasing competition from traditional tech stocks. This shift highlights the evolving landscape of investment preferences, with AI technologies gaining momentum while cryptocurrencies face challenges. As the market adapts, both sectors will likely continue to influence investor behavior in the coming weeks.