Crypto trader sees Hyperliquid, AI tokens leading next altcoin rally
TL;DR
Hyperliquid's HYPE token has reached a new all-time high following the launch of two ETFs in the U.S., attracting European traders. Analyst Van de Poppe predicts HYPE could exceed $100 if market conditions improve, while he views Solana as a stronger long-term investment.
Key points
- Hyperliquid's HYPE token hit a new all-time high
- Two HYPE ETFs launched in the U.S.
- European traders are increasingly moving to Hyperliquid
- Van de Poppe predicts HYPE could rise to $100
- Solana is viewed as a stronger long-term investment
Mentioned in this story
Hyperliquid
HYPE
Latest developments: Hyperliquid is outperforming much of the crypto market as traders rotate back into higher-risk assets.
- Hyperliquid’s HYPE token hit a new all-time high after two HYPE ETFs launched in the U.S.
- Van de Poppe said European traders have increasingly moved to Hyperliquid because perpetual futures trading remains difficult to access on many regulated venues in Europe.
- He argued Hyperliquid’s push into tokenized stocks, commodities and pre-IPO assets is accelerating broader tokenization trends across crypto markets.
- Van de Poppe said HYPE could rise to $100 or more if crypto market appetite continues to strengthen.
- Van de Poppe joined Jennifer Sanasie on CoinDesk's Markets Outlook.
What this means: Van de Poppe sees Hyperliquid as a short-term winner but Solana as the stronger long-term conviction bet.
- He said liquidity in crypto markets is concentrating around a small group of protocols generating strong user growth and revenue.
- Van de Poppe said Hyperliquid currently benefits from that concentration but warned competitors will eventually enter the market and pressure its dominance.
- He described Solana as successfully transitioning from a “degen” ecosystem into a more institutional blockchain ecosystem.
- Van de Poppe said Solana’s long-term positioning as infrastructure makes it more attractive than Hyperliquid over a multi-year horizon.
The AI trade: AI-linked crypto projects remain deeply undervalued relative to traditional AI companies, van de Poppe said.
- He pointed to NEAR and Bittensor as two of the strongest infrastructure plays tied to AI adoption in crypto.
- Van de Poppe argued valuations for private and public AI companies have become overheated, while crypto AI tokens have fallen sharply despite continued ecosystem growth.
- He said NEAR’s projected revenue growth from roughly $10 million in 2025 to as much as $100 million this year supports a significantly higher valuation.
- Van de Poppe said Bittensor’s ecosystem expansion and subnet structure could justify prices between $1,000 and $2,000 if adoption continues.
The privacy debate: Privacy remains one of crypto’s biggest long-term themes, but fully anonymous systems face major regulatory risks.
- Van de Poppe said institutional and retail users both want more transactional privacy on blockchains.
- He argued governments are unlikely to support fully anonymous privacy coins over the long term because regulators want visibility into transactions.
- Van de Poppe said funds in Europe already face restrictions interacting with certain privacy-focused assets.
Q&A
What is Hyperliquid and why is it gaining popularity among traders?
Hyperliquid is a crypto trading platform that has gained popularity due to its ability to offer perpetual futures trading, which is often difficult to access in Europe.
What are the predictions for Hyperliquid's HYPE token price?
Analyst Van de Poppe predicts that HYPE could rise to $100 or more if the appetite for crypto assets continues to strengthen.
How does Solana compare to Hyperliquid in the long term?
While Hyperliquid is seen as a short-term winner, Van de Poppe considers Solana more attractive for long-term investment due to its transition to a more institutional blockchain ecosystem.
