The 2026 shanzhai season depends on broader liquidity and multi-sector participation
HYPE, LINK, ONDO, RENDER and AVAX represent different practicality and growth themes, respectively. Meme activity may exacerbate market volatility, but speculative momentum may also quickly reverse. As investors pay attention to whether funds may spill out from large-market cryptocurrencies, the 2026 shanzhai season has once again attracted attention. Current discussions include Hyperliquid (HYPE), Chainlink (LINK), Ondo (ONDO), Render (RENDER), and Avalanche (AVAX). Each project has a different market narrative that could affect its performance if broader demand for altcoins strengthens.
Investors are no longer relying solely on speculative momentum, but are increasingly looking at protocol activity, network usage, institutional adoption, and sector growth. When resistance levels are broken through amid considerable volume and broader participation, the next areas where capital inflows will be higher will be large altcoins, Layer 1 networks, decentralized applications and new infrastructure projects. However, the market needs broader trend confirmation rather than a single technical fluctuation.
HYPE: Focus on protocol revenue
Hyperliquid has attracted attention because of its ecosystem's close connection to decentralized transaction activities. Agreement revenue provides investors with another indicator of network usage in addition to price fluctuations. In the market, this distinction is becoming increasingly important when people compare utility-driven projects with tokens that are largely supported by narrative.
LINK: Maintaining connection with blockchain infrastructure
Chainlink continues to occupy an important position in blockchain infrastructure. Its oracle technology connects blockchain networks with external data, and its role in tokenized assets also expands potential application scenarios. Growing interest in real-world asset infrastructure may keep LINK on the watch list in the next round of market rotation.
ONDO: Following the tokenization trend
Ondo has been closely associated with the tokenization of real-world financial assets. The field is still in its relatively early stages, and financial institutions are exploring traditional blockchain-based tool representation forms. Further adoption may affect investor interest in projects that serve this market.
RENDER: Provides AI-related catalysts
RENDER provides investors with exposure to decentralized GPU computing and broader artificial intelligence infrastructure needs. AI remains one of the strongest themes in the technology market. As a result, the continued demand for computing resources may be an important factor behind the RENDER market narrative.
AVAX: Strong contender for Layer 1
As competition among smart contract networks develops, Avalanche remains one of the items that traders may focus on. Its ecosystem covers decentralized applications, tokenized assets and blockchain infrastructure. If funding starts to move towards alternative Layer 1 platforms, increased network activity may become an important signal.

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