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

Odaily Planet Daily News Hyperliquid has recently significantly outperformed the broader market, with its token HYPE reaching a new all-time high after the launch of two related ETFs in the United States. Meanwhile, European traders are accelerating their flow to the platform as access to perpetual contracts on regulated platforms is restricted. Market analyst Michael van de Poppe stated that as Hyperliquid continues its rally and AI-related crypto projects regain attention, signs of a recovery in risk appetite are emerging in the altcoin market. Hyperliquid's expansion into tokenized stocks, commodities, and pre-IPO assets is strengthening the on-chain asset tokenization trend, and he believes that with continued improvement in market sentiment, HYPE's price could target $100 or higher.

However, Michael van de Poppe also emphasized that while Hyperliquid has the 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 valuations. He believes NEAR's revenue growth potential and Bittensor's subnetwork expansion could support higher valuation ranges. Additionally, he indicated that the privacy sector still holds long-term demand, but fully anonymous systems face regulatory pressure, and the future is more likely to be dominated by zero-knowledge proofs and compliant privacy solutions.

On the macro level, Michael van de Poppe noted that bond yields and central bank policies remain the core drivers for the crypto market, particularly changes in Japanese government bond yields, which could become a key barometer. (CoinDesk)