Crypto trader Michael van de Poppe said the rise of Hyperliquid and AI-focused tokens indicates a broader return of risk appetite in altcoins.
This shift suggests that investors are regaining the confidence to move capital into higher-risk assets after a period of caution. If AI-driven tokens continue to gain momentum, it could trigger a wider rally across the altcoin market.
Van de Poppe said, "Hyperliquid’s surge and renewed interest in AI‑focused crypto projects are signaling a broader return of risk appetite in altcoins."
Market data shows significant movement in specific assets. The HYPE token has seen a 77% increase year-to-date [1]. Matt Hougan, CIO of Bitwise, said Hyperliquid is undervalued and noted that its buy-back model drives value [1].
AI-related tokens have also shown volatility. The NEAR token price increased 50% in a single week, including a 34% rise to $2.32 within a 24-hour window [2]. This activity follows a period of high visibility for the sector, with AI mentions on social media hitting record highs in February 2026 [3].
However, the strength of this AI-led movement is contested. While some reports suggest AI momentum is fueling bullish sentiment, other market analyses indicate that AI tokens have actually been missing the broader rally [4, 5].
Despite these contradictions, the current price action for HYPE and NEAR suggests a concentrated interest in projects that merge decentralized finance, and artificial intelligence capabilities.
“Hyperliquid’s surge and renewed interest in AI‑focused crypto projects are signaling a broader return of risk appetite in altcoins.”
The disagreement between market analysts regarding AI tokens highlights a divergence in how 'risk' is being priced. While specific tokens like HYPE and NEAR are posting gains, the lack of a uniform rally across all AI projects suggests that investors are becoming more selective, favoring projects with clear value-capture mechanisms like buy-back models over general AI hype.
