Analyst: HYPE and AI Tokens May Lead the Next Altcoin Rally as Market Risk Appetite Returns

Odaily reported that Hyperliquid has significantly outperformed the broader market recently. Its token, HYPE, hit a new all-time high after the launch of two related ETFs in the United States. Meanwhile, European traders are increasingly flocking to the platform as their access to perpetual contracts on regulated venues is restricted. Market analyst Michael van de Poppe stated that with Hyperliquid's continued rise and renewed interest in AI-related crypto projects, the altcoin market is showing signs of a recovery in risk appetite. Hyperliquid's expansion into tokenized stocks, commodities, and pre-IPO assets is reinforcing the trend of on-chain asset tokenization. He suggested that, amid continuously improving market sentiment, the price of HYPE could challenge $100 or even higher.

However, Michael van de Poppe also emphasized that while Hyperliquid holds a short-term advantage, Solana offers greater investment certainty in the long term, transitioning from a "speculative ecosystem" to institutional-grade infrastructure. In the AI sector, he pointed out that NEAR Protocol and Bittensor remain significantly undervalued, noting a disconnect between their fundamental growth and valuation. He believes NEAR's revenue growth potential and Bittensor's subnet expansion could support higher valuation ranges. Additionally, he noted that while the privacy sector still has long-term demand, fully anonymous systems face regulatory pressure, and the future is likely to be dominated by zero-knowledge proofs and compliant privacy solutions.

On the macro level, Michael van de Poppe pointed out that bond yields and central bank policies remain core drivers of the crypto market, with changes in Japanese government bond yields potentially serving as a key bellwether. (CoinDesk)