Analysis: Hyperliquid to Lead Next Meme Coin Rally with AI Token

Cryptocurrency trader Michael van de Poppe told CoinDesk in a May 23 interview that the crypto market’s risk appetite is climbing right now—and Hyperliquid’s strong performance, paired with a resurgence in AI-related crypto assets, could signal the start of the next altcoin season. Van de Poppe noted HYPE recently hit a new all-time high, driven in part by the U.S. launch of Hyperliquid-linked ETFs plus European traders shifting their perpetual contract trading to the platform. He added that Hyperliquid’s expansion into tokenized stocks, commodities, and pre-IPO assets is accelerating the adoption of on-chain assets across the crypto space. That said, he pointed out Solana is a more attractive long-term investment than Hyperliquid, thanks to its transition from a retail-led ecosystem to institutional-grade infrastructure. When it comes to the AI race, Van de Poppe highlighted NEAR Protocol and Bittensor remain deeply undervalued, even as their ecosystems keep growing. Their valuations still lag behind traditional AI firms, but he thinks AI tokens will regain investor funding attention down the line. Van de Poppe also emphasized current crypto liquidity is flowing toward just a handful of high-growth protocols, while macro factors like bond yields and global central bank policies remain critical variables. He warned persistent inflation or a restart of interest rate hikes could put pressure on risk assets.