As a tech-led sell-off in U.S. equities spilled over into the digital asset market, spot Bitcoin ETFs recorded their largest single-day net outflows since late June on October 22. Bitcoin briefly fell toward $79,000, hitting a five-week low, while major altcoins posted double-digit losses for the week. Amid the broader market correction, however, several assets listed on HTX defied the downturn, posting double-digit gains. From October 19 to 25, BMT led weekly gainers with an 86% surge. Top performers were concentrated primarily in the DeFi, AI, and memecoin sectors, with nearly half originating from the Solana ecosystem.
DeFi: Protocol Revenues Support Token Value
Among the five DeFi assets on the list, several have token mechanisms directly linked to protocol revenue, such as ORDER buybacks, JST token burns, and CVX revenue distributions.
● BMT: Up 86% last week. Bubblemaps is an on-chain data visualization platform that uses bubble charts to map token distribution and wallet clusters, helping identify signals such as concentrated holdings and linked addresses. Issued on Solana, BMT provides access to advanced platform analytics and governance participation.
● ORDER: Up 65% last week. Orderly Network provides shared cross-chain order books and clearing infrastructure, including OrderlyOne, which enables projects to launch perpetual futures markets without building their matching engines. Under a governance proposal previously approved by the community, 60% of net fee revenue is allocated to open-market ORDER buybacks.
● CVX: Up 23% last week. Convex Finance enables Curve liquidity providers and CRV holders to enhance their yields without directly locking CRV. CVX is the protocol’s governance and yield-sharing token. According to DefiLlama, the protocol’s total value locked stood at approximately $580 million as of October 20.
● WIN: Up 23% last week. WINkLink is an oracle network within the TRON ecosystem that provides price feeds and verifiable randomness for on-chain lending and gaming applications.
● JST: Up 10% last week. JST is the governance token of JUST, a DeFi protocol within the TRON ecosystem. According to JustLend DAO’s official announcements, the protocol completed its fifth buyback-and-burn cycle on October 16, burning approximately 170 million JST. Since the mechanism was introduced in October 2025, cumulative burns have reached approximately 1.88 billion JST, representing nearly 19% of the total supply.
AI: Focus on Agent Development and On-Chain Execution
ARC and ZEREBRO both emerged from the Solana AI agent boom in late 2024, introducing open-source frameworks for agent development. Meanwhile, SKYAI on BNB Chain and ELSA on Base focus on data access and on-chain execution for AI agents.
● ARC: Up 53% last week. AI Rig Complex centers on Rig, a Rust-based framework that allows developers to connect to more than 20 large language model providers and build AI agents capable of reading on-chain data and interacting with smart contracts across Solana and multiple EVM-compatible chains.
● ZEREBRO: Up 43% last week. Zerebro is an AI agent that creates music, images, and meme content and operates across social media platforms without requiring a person to issue instructions for every action. Its open-source ZerePy framework enables developers to build custom agents using the same underlying architecture.
● SKYAI: Up 34% last week. SkyAI provides AI data infrastructure on BNB Chain. Its MCP Hub serves as a unified gateway through which AI agents can access structured on-chain data from multiple providers.
● ELSA: Up 24% last week. HeyElsa is an AI-powered on-chain execution assistant on Base that allows users to perform token swaps, bridge assets across chains, and trade futures using natural language commands. The project is backed by the Base Ecosystem Fund and allocates 10% of protocol fee revenue to ELSA token burns.
Meme: Token Buybacks and Burns Linked to Launchpad Fees
Both top-performing memecoins were launched on Solana and integrated with launchpad fee mechanisms, using platform-generated revenue to fund token buybacks and burns.
● PAID: Up 30% last week. Launched via Pump.fun in mid-September, PAID powers UsePaid, a utility tool designed to transfer creator fees generated by memecoins to designated X accounts. A portion of these fees is used to buy back and burn PAID tokens.
● STONK: Up 28% last week. StonkFun is a Solana-based token issuance platform that newly launched tokens can be paired for trading with assets such as tokenized stocks and ETFs. Platform revenue is used to buy back and burn STONK.
Memecoins are highly sensitive to shifts in community sentiment and can be significantly more volatile than major cryptocurrencies. Investors should carefully assess the associated market risks before trading.
Sector Divergence Amid Broad Market Weakness
While major digital assets broadly declined last week, top-performing tokens emerged across multiple sectors and public blockchain ecosystems. Some of these assets have token mechanisms directly linked to underlying protocol revenue, potentially allowing their price performance to diverge from the broader market. However, such divergence can also be accompanied by heightened volatility. Investors should carefully evaluate project fundamentals and associated risks before trading. HTX will continue to monitor developments across public blockchain ecosystems and emerging sectors to provide users with a seamless and reliable trading experience.
The post first appeared on HTX Square.
