Hyperliquid's HYPE Token Hits Record $75.40, Surpasses Solana's $72 Price on Wednesday

According to DeFiLlama, Hyperliquid's HYPE token reached a record high of $75.40 on Tuesday and traded near $74 on Wednesday, surpassing Solana's approximately $72 price. The rally came as HYPE gained about 24% over the past month while SOL fell roughly 14% amid a broader market decline.

Hyperliquid captured a record 6.63% of global perpetual futures volume in May and generated about $53 million in network fees over 30 days, according to DeFiLlama data. Despite the price milestone, Solana remained significantly larger by market capitalization at approximately $41.6 billion, compared to roughly $16.5 billion for Hyperliquid.