DeFi Altcoins HYPE, WLFI, and ENA Rally Amid Bitcoin Slowdown, Signaling Market Shift

In November 2025, altcoins HYPE, WLFI, and ENA have experienced significant surges as Bitcoin's momentum slows, reflecting a broader shift in cryptocurrency market dynamics. HYPE's total value locked (TVL) skyrocketed from $400 million to $2.2 billion, driven by EVM deployments and strategic gains, while ENA's on-chain activity surpassed 770,000 wallets, indicating robust community engagement.

The Ethena Core Team emphasized this growth, stating, "Excited to see $USDe integrate into another L2. This is further proof of DeFi’s composability and our product-market fit." Meanwhile, WLFI surged 36% since its November 21 low of $0.11, partly due to its association with the Trump family, highlighting selective investor interest.

Analysts attribute this trend to a targeted capital rotation into projects with real utility, rather than a broad altseason. Wenny Cai of SynFutures noted, "Capital rotation is happening, but selectively—and only projects with real utility, strong fundamentals, or innovative tokenomics are likely to see meaningful upside." Gracy Chen from Bitget added that innovative DeFi integrations and strong community support are key drivers.

Bitcoin's price stabilized with a 5.6% increase from a recent low of $82,100, influenced by shifting Federal Reserve policy expectations. The odds of a December rate cut jumped from 30% to over 80%, according to the CME FedWatch tool, fueling market optimism. This selective altcoin performance underscores a move toward diversified portfolios and enhanced DeFi ecosystem resilience.