Analysis: Hyperliquid and AI tokens may lead the next wave of altcoin market trends

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Mars Finance News, on May 23, crypto trader Michael van de Poppe stated in an interview with CoinDesk that the current market risk appetite is on the rise, and the strong performance of Hyperliquid along with renewed activity in AI-related crypto assets may signal the start of the next wave of altcoin markets.
Van de Poppe pointed out that HYPE recently hit a new all-time high, partly due to the launch of ETF products related to Hyperliquid in the U.S. market and European traders shifting to the platform for perpetual contract trading.
He believes that Hyperliquid's expansion into tokenized stocks, commodities, and pre-IPO assets is accelerating the trend of asset onboarding in the crypto market.
However, he also stated that from a mid- to long-term perspective, Solana remains more attractive for investment than Hyperliquid, as it is gradually shifting from a "retail-driven ecosystem" to institutional-grade infrastructure.
In the AI track, he thinks NEAR Protocol and Bittensor are still significantly undervalued. Despite continuous growth in related ecosystems, their valuations still lag behind traditional AI companies.
He pointed out that AI tokens might regain funding attention in the future.
Van de Poppe also emphasized that current crypto market liquidity is concentrating on a few high-growth protocols, while macroeconomic factors remain key variables, including bond yields and central bank policy directions across countries.
He warned that if inflation persists or interest rate hikes restart, it could put pressure on risk assets.
HYPE7.82%
SOL1.76%
TAO5.35%
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ExitLiquidityIntern
· 8h ago
Risk appetite is rising again = Retail investors are starting to FOMO again, a classic cycle
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NonceCollector
· 9h ago
European traders are shifting to perpetual contracts; this incremental market was previously underestimated.
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SilverLiningOfPessimism
· 9h ago
van de Poppe's view this time is quite comprehensive, HYPE's new high is indeed strong, but I stand with SOL's long-term value
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MintConditionHuman
· 10h ago
Liquidity-concentrated leading protocols, smaller tokens are even harder to play with
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StargazingWithAMirroredSphere
· 10h ago
Macroeconomic factors always take the spotlight, and analysts ultimately have to bring it all back together.
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AncientKeysUnlockNewChains
· 10h ago
Tokenized stocks and IPO assets, if this takes off, it will be the new Wall Street.
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QuantitativeButNotPretentious
· 10h ago
Solana institutional infrastructure roadmap, feels like they're holding a big move.
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GateUser-44dde53b
· 10h ago
ETF narrative + European capital inflow, Hyperliquid's wave of institutional transformation is playing it well
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BlueGlassJelly
· 10h ago
Bittensor's AI consensus mechanism is indeed unique, with significant potential for valuation recovery.
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GateUser-f78f1f3e
· 10h ago
Inflation hasn't fully died down, the shadow of interest rate hikes is still there, can't go all-in.
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