Following a more than 20% increase in Bitcoin since the previous week, traders are rotating into altcoins in search of larger gains. Market observers are paying renewed attention to three particular tokens as the fall trading season begins: Kaspa, Solana, and Hyperliquid. These altcoins currently sit at varying distances from their respective all-time highs.
Analyst outlooks generally support an undervalued narrative for two of the three tokens under constructive market conditions. However, overall outcomes depend significantly on Bitcoin's future trajectory and general market risk appetite.
Kaspa (KAS)
Kaspa trades at $0.0282, reflecting a 1.34% increase over a 24-hour period. The token remains approximately 87% below its all-time high of $0.20741, which was achieved on August 1, 2024. Analysts cite near-complete supply issuance and recent network upgrades as factors for optimism.
In an upward scenario, expanding network activity and easing emissions pressure could push the price toward $0.035 to $0.045. Conversely, a bearish case could see the price retreat to $0.022 to $0.025 if broader market weakness returns or developer adoption slows.
Solana (SOL)
Solana trades at $98.50, sitting about 66% below its all-time high of $293.31 reached on January 19, 2025. Market observers point to tokenomics improvements, including potential cuts to inflation and stronger fee burns. In July, Solana recorded $4.2 billion in on-chain transactions, representing a 13.5% increase driven by tokenized assets and a SOL rally.
Two economic changes for SOL are currently live for voting: one aiming to accelerate terminal inflation cuts from approximately 5.7 years down to about 2.8 years, and another introducing a fully burned fee based on requested resource usage. Bullish projections indicate a potential move toward $130 to $180 if institutional flows accelerate, while a risk-off environment could push the token back toward the $75 support level.
Hyperliquid (HYPE)
Hyperliquid trades at $82.34, up approximately 40% over the week. The token reached a new all-time high of $83.27 on August 23, placing it just 1% below its record peak. Market participants consider the token attractively priced relative to its perpetual trading revenue and expanding infrastructure. Additionally, remarks from Trump on August 19 regarding bringing Hyperliquid legally into the US prompted a nearly 20% surge within 24 hours.
In a positive scenario, sustained volume growth and buyback mechanisms could drive the price toward $100 to $150. A bearish outcome could lead to a pullback to $60 to $70 due to profit-taking or a wider market correction.
