Cryptocurrency Trader Sees Next Altcoin Season Ahead with Hyperliquid

Cryptocurrency markets have been showing signs of increased risk appetite, according to Michael van de Poppe, a well-known cryptocurrency trader. In an interview with CoinDesk, he mentioned that Hyperliquid's recent all-time high is partly due to the U.S. market launching ETF products related to the platform.

Van de Poppe pointed out that Hyperliquid's expansion into tokenized stocks, commodities, and pre-IPO assets may be driving the trend of on-chain assets in the crypto market. This trend is also evident in the resurgence of AI-related crypto assets, which he believes may signal the start of the next altcoin season.

However, Van de Poppe also noted that Solana remains more attractive for investment in the medium to long term due to its transition from a retail-driven ecosystem to institutional-grade infrastructure. He emphasized that NEAR Protocol and Bittensor are still undervalued despite their growing ecosystems and highlighted that AI tokens may regain funding attention in the future.

The current crypto market liquidity is flowing towards high-growth protocols, while the macro environment remains a key variable. Van de Poppe warned that continued inflation or interest rate hikes could put pressure on risk assets.