Hype is definitely a factor, and the way I see it is: the crypto market currently has something of a multiplier on news surrounding a coin. In other words, when a compelling piece of news comes out about a coin, the price responds in a much more drastic way than if similar news were to come out about a company's stock. The crypto market just has such a massive spotlight so events affect the price sometimes 10x that of a stable market (like the public stock exchange)