Odaily Planet Daily reports that Hyperliquid’s HYPE token price surpassed Solana’s SOL on Wednesday, as SOL fell to its lowest level since 2023. HYPE reached a record high of $74.67 on Tuesday and is currently trading at $74.47, above SOL’s $71.62. Over the past month, HYPE has risen approximately 24%, making it one of the few assets among the top 20 cryptocurrencies to gain value, while Solana declined nearly 14% during the same period. By market capitalization, Solana still leads with approximately $42 billion, compared to Hyperliquid’s $16 billion. In a valuation report released on Tuesday, CoinShares stated that HYPE is among the few crypto assets where protocol activity nearly directly translates into token demand, with a target price of approximately $147 under its base case scenario by 2031.
HYPE price surpasses SOL; Solana reaches 2023 low
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Summary
On Wednesday, HYPE outperformed SOL, as Solana hit its 2023 low. HYPE reached $74.67 on Tuesday and is now trading at $74.47, above SOL’s $71.62. Over the past month, HYPE rose 24%, while SOL declined nearly 14%. Solana still leads in market cap at $420 billion compared to HYPE’s $160 billion. CoinShares noted that HYPE is among the altcoins to watch, highlighting strong on-chain data and a 2031 price target of $147.
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