Bitwise CIO Describes HYPE as '2nd Generation' Crypto, Up 77% Since 2026 Start

HYPE6.58%
According to Bitwise Chief Investment Officer Matt Hougan, HYPE has gained 77% in value since the beginning of 2026, yet the market is not fully pricing in Hyperliquid's long-term growth potential. Hougan characterized HYPE as a "second-generation crypto token" with capacity to create value over time, similar to traditional securities. Hyperliquid generated approximately $170 billion in transaction volume last month. Bitwise recently launched a HYPE-based ETF and plans to allocate management fees to accumulate additional HYPE tokens.
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