Alternative digital currencies poised for resurgence, with artificial intelligence and highly liquid assets at the forefront.

In a notable shift, Hyperliquid has been outpacing a significant portion of the cryptocurrency market, as investors increasingly flock to higher-risk assets. The recent introduction of two exchange-traded funds (ETFs) tracking Hyperliquid's $HYPE token in the United States has propelled the token to unprecedented heights, achieving a new all-time high.

According to Van de Poppe, a prominent expert, European traders are gravitating towards Hyperliquid due to the limited accessibility of perpetual futures trading on many regulated platforms in Europe. He believes that Hyperliquid's foray into tokenized stocks, commodities, and pre-IPO assets is driving the broader trend of tokenization across the cryptocurrency landscape. Van de Poppe predicts that $HYPE could potentially reach $100 or higher if the appetite for cryptocurrencies continues to strengthen. He shared his insights with Jennifer Sanasie on CoinDesk's Markets Outlook, providing valuable perspective on the current market landscape.

From a long-term perspective, Van de Poppe views Solana as a more compelling investment opportunity compared to Hyperliquid. He attributes this to Solana's successful transition from a decentralized ("degen") ecosystem to a more institutional blockchain ecosystem, which positions it as a stronger long-term bet. In contrast, Hyperliquid's short-term success may be subject to increased competition, which could challenge its dominance in the market. Van de Poppe notes that liquidity in the cryptocurrency market is becoming concentrated around a select group of protocols that are experiencing robust user growth and revenue.

Van de Poppe also highlighted the significant undervaluation of AI-linked cryptocurrency projects compared to their traditional counterparts. He cited $NEAR and Bittensor as two of the most promising infrastructure plays tied to AI adoption in the cryptocurrency space. Despite the substantial growth of AI ecosystems, the valuations of crypto AI tokens have plummeted, whereas those of private and public AI companies have become inflated. Van de Poppe argued that $NEAR's projected revenue growth, which is expected to soar from approximately $10 million in 2025 to $100 million this year, warrants a substantially higher valuation. Similarly, he believes that Bittensor's ecosystem expansion and subnet structure could justify prices between $1,000 and $2,000 if adoption continues to grow.

The issue of privacy remains a pressing concern in the cryptocurrency landscape, with Van de Poppe emphasizing that both institutional and retail users are seeking greater transactional privacy on blockchains. However, he cautioned that fully anonymous systems are likely to face significant regulatory risks, as governments are unlikely to support such systems in the long term due to the need for visibility into transactions. Van de Poppe noted that funds in Europe are already subject to restrictions when interacting with certain privacy-focused assets. He advocated for zero-knowledge proof systems and permissioned privacy models as more sustainable paths forward for institutional adoption.

From a macroeconomic perspective, Van de Poppe identified bond yields and central bank policy as the primary drivers of the cryptocurrency market in the near term. He pointed to Japanese bond yields as a key market signal that could significantly influence broader risk appetite. A decline in yields could support equity and cryptocurrency markets, while persistent inflation could create headwinds. Van de Poppe does not expect the Federal Reserve to implement aggressive rate cuts or renewed monetary easing in the near term, warning that additional rate hikes would likely pressure cryptocurrencies and broader risk assets.