- Grayscale launched the first U.S. spot Chainlink (LINK) ETF today
- HYPE rallied after Sonnet shareholders approved a business combination to form Hyperliquid DAT
- ASTER jumped more than 13% following a new partnership with WLFI
Crypto markets bounced on Tuesday, with total market capitalization climbing more than 6% to about $3.06 trillion.
Bitcoin reclaimed $90,000 while Ethereum traded above $3,000.
This article reviews three altcoins—Chainlink, HYPE and ASTER—that remain in the spotlight for several reasons.
Grayscale’s Spot Chainlink ETF Goes Live
Grayscale converted its Chainlink Trust into an ETF today, launching the first U.S. spot Chainlink exchange-traded product.
The move was widely anticipated across the crypto community, as many view Chainlink’s oracle infrastructure as critical to real-world asset (RWA) use cases and decentralized finance (DeFi) applications.
Commenting on the GLINK launch, Inkoo Kand, Grayscale’s ETF officer, said:
Chainlink’s decentralized oracle network is setting market standards for verifiable data and cross-chain connectivity that support tokens and DeFi on public blockchains. With GLINK, investors can gain exposure to that foundational infrastructure through a familiar ETP wrapper.
GLINK also simplifies institutional access to Chainlink, enabling traditional investors to engage with the protocol without directly managing tokens.
LINK reacted positively to the ETF announcement, rising more than 12% to trade around $13.32.
HYPE Rises After Major Corporate Move
HYPE surged over 10% in the past 24 hours after Sonnet confirmed a significant corporate development.
According to Sonnet’s press release on December 2, shareholders approved a proposed business combination introducing Hyperliquid Decentralized Autonomous Treasury (DAT).
Sonnet BioTherapeutics Holdings, Inc. Announces Stockholder Approval of Proposed Business Combination with Hyperliquid Strategies Inc https://t.co/tzF9O6EgSM $SONN pic.twitter.com/cOT6JSp2ai
— Sonnet Bio (@SonnetBio) December 2, 2025
The plan involves a merger between Sonnet and Rorschach I LLC to form a single entity named Hyperliquid Strategies. The new company aims to raise $1 billion to acquire HYPE tokens.
The ambitious fundraising target signals strong institutional confidence in the altcoin’s prospects.
HYPE traded at $33.03 after the more than 10% gain over 24 hours.
ASTER Rallies on WLFI Partnership
Aster’s native token also posted impressive price action, rising over 13% in the last 24 hours.
The rally followed a strategic partnership announced with World Liberty Financial (WLFI), a move shared by Aster founder and CEO Leonard during a fintech and crypto conference in Dubai.
Under the agreement, a decentralized exchange will integrate WLFI’s USD1 stablecoin, a step intended to boost stablecoin adoption and on-chain liquidity.
The altcoin climbed above the psychological $1 level after the 13% daily advance.
ASTER remains poised for further gains, though lower 24-hour volume highlights potential vulnerability and the need for follow-through buying.
Meanwhile, the broader crypto market held a broadly bullish tone today after recovering from sharp declines over the past few sessions.
Bitcoin rose more than 7% on the daily chart, while Ethereum gained roughly 10%.
Ending quantitative tightening and renewed ETF interest have helped fuel the current bullish momentum.