Crypto Market Turns Red as XRP, ETH, and HYPE Lead Major Selloff — 36Crypto

What to Know:

• Hyperliquid plunges 10.5% while XRP and Ethereum extend market losses.
• Bitcoin holds above $62,000 as major cryptocurrencies remain pressured.
• Bitway, Zest Protocol, and HOME surge despite broader weakness.

XRP, Ethereum (ETH), and Hyperliquid (HYPE) posted some of the largest losses among major cryptocurrencies on Friday as weakness spread across the digital asset market, pushing most leading tokens into negative territory.

Hyperliquid (HYPE) recorded the steepest decline among the largest cryptocurrencies, falling 10.5% to $65.24. Even with the drop, the token generated $1.85 billion in daily trading volume and maintained a market capitalization of $14.52 billion.

Bitcoin (BTC) outperformed most major assets by limiting losses to 0.1%, trading at $62,742.49, posting $55.14 billion in daily volume, and maintaining a market capitalization above $1.25 trillion.

Ethereum (ETH) moved lower by 1.5% to $1,737.59 while processing more than $23.23 billion in trading activity. Its market capitalization stood at $209.97 billion, keeping it firmly in second place among digital assets.

XRP experienced a larger decline than Ethereum, shedding 2.2% to trade at $1.15. The cryptocurrency recorded $2.75 billion in daily volume and retained a market value of more than $71.12 billion despite the downturn.

Elsewhere, Solana (SOL) fell 1.5% to $67.87, recording $4.52 billion in trading volume. BNB declined 1.2% to $598.00, while TRON (TRX) slipped 0.7% to $0.3279. Dogecoin (DOGE) also traded lower, dropping 1.5% to $0.08719 with more than $1.13 billion in daily trading activity.

Also Read: Virtuals Moves $700M to Chainlink CCIP as LayerZero Migration Trend Grows

Smaller tokens outperform despite broader market weakness

While large-cap cryptocurrencies struggled to gain traction, several lower-ranked assets attracted strong buying activity and delivered substantial gains during the session. Bitway (BTW) emerged as the strongest performer, surging 258.2% to $0.04453, generating more than $38.48 million in trading volume. Zest Protocol (ZEST) followed with a 95.4% increase to $0.2745 and recorded $55.59 million in daily volume.

HOME (HOME) gained 46.8% to reach $0.05642, supported by trading activity exceeding $111.92 million. Additionally, Degen (DEGEN) advanced 29.2%, while Siren (SIREN) climbed 28.3%. Epic Chain (EPIC), SHOW (SHOW), and FORM (FORM) also registered double-digit gains, highlighting continued speculative interest in selected smaller-cap projects despite the weakness affecting most leading cryptocurrencies.

The latest market performance revealed a widening gap between established digital assets and lower-cap tokens, as traders rotated into selected gainers while major cryptocurrencies remained under pressure.

The broader cryptocurrency market ended the session in the red, with XRP, Ethereum (ETH), and Hyperliquid (HYPE) leading losses among major assets, while a handful of smaller tokens delivered outsized gains and attracted significant trading activity.

Also Read: 74% of Strategy’s Bitcoin Holdings Fall Into Loss Territory as BTC Drops

Originally published at https://36crypto.com on June 5, 2026.

Crypto Market Turns Red as XRP, ETH, and HYPE Lead Major Selloff — 36Crypto was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.