Perpetual futures, Made in USA coins, and meme coins are the top three crypto narratives to watch in the second week of March. Perpetual tokens like HYPE and WOO have fallen over 12%, but strong trading activity and high yields suggest a potential rebound.
Made in USA coins including PI, ADA, and HBAR have suffered significant losses amid market turmoil, but could recover quickly if market conditions stabilize. Meme coins have taken a big hit, but have a history of rapid rebounds, and could lead the next rally if sentiment shifts.
Perpetual Futures Platform Coins
Perpetual futures coins appear to be preparing for a rebound after a difficult week. HYPE and WOO have fallen over 12% in the past 7 days. Perpetual futures platforms allow traders to buy and sell perpetual futures contracts with no expiration date.
These platforms use funding mechanisms to keep contract prices aligned with the spot market, allowing traders to take long or short positions using leverage.
Despite the recent declines in some perpetual tokens, the sector remains highly active, generating significant trading volume and fees on major platforms.
Hyperliquid has maintained a dominant position in the perpetual futures space, generating $12 million in fees last week, outperforming major DeFi apps like Jito, Maker, Solana, Ethereum, Raydium, and Pumpfun.
However, this dominance suggests that there is room for competitors to challenge its position in the market. Arkham surged 14% in the last 24 hours, indicating that some traders are betting on alternative projects within the perpetual futures ecosystem.
Overall, these trends make perpetual futures one of the key crypto narratives to watch this week.
Made in USA Coins
The largest Made in USA coins all suffered significant losses last week. PI dropped 22.6%, while ADA and HBAR fell 18.9% and 18.9%, respectively. Made in USA coins refer to cryptocurrencies with strong ties to the United States, either through their founding team or company headquarters.
This category often includes projects under regulatory scrutiny or with institutional support from US-based entities. The recent declines align with the broader market weakness, with both crypto and stock markets taking a significant hit in the past 24 hours.
The US stock market has lost $4 trillion in value since Trump's new tariff push. Given the scale of this correction, some investors may view the recent declines as an overreaction, suggesting a potential rebound that could have a positive impact on cryptocurrencies and drive a new rally.
Historically, sharp declines in both crypto and stocks have been followed by strong recoveries as macroeconomic concerns subside.
While the downtrend persists, a shift in sentiment could trigger a rebound in Made in USA coins once market conditions stabilize.
Meme Coins
Meme coins remain one of the most volatile crypto narratives. They experience the sharpest rallies during bull markets and the most severe corrections during downturns.
This volatility was evident last week, with the largest meme coins taking a significant hit. Dogecoin (DOGE), the largest meme coin by market cap, fell over 17% in the past 7 days.
TRUMP declined more than 14%, while PEPE and BONK lost over 10% during the same period.
However, if the crypto market rebounds this week, meme coins could lead the recovery. Historically, these assets have performed exceptionally well in bullish trends due to their speculative nature and the rapid influx of retail interest.
The last major meme coin rally occurred after a broad market rebound, with renewed interest and aggressive buying activity reigniting the trend.
If sentiment shifts and liquidity returns, DOGE, TRUMP, PEPE, and BONK could quickly regain their lost ground, potentially leading to another wave of explosive gains in the meme coin sector.
