Hyperliquid's FDV surpasses Solana, you read that right.

Today’s information is quite a lot:
Gray scale-related addresses bought 510,000 HYPE in a week, worth 24.95 million dollars, all staked. Don’t forget, Gray scale already submitted an S-1 application for a HYPE ETF in January this year.
HYPE is priced at 56.2 dollars, with a FDV of 54.1 billion dollars, officially surpassing Solana’s 54.08 billion.
This is not meme narrative, this is a chain speaking with its product: Hyperliquid’s daily trading volume has long been at the top, and there are no rivals in the on-chain derivatives track.
Gray scale buying + ETF anticipation + FDV surpassing SOL = institutional-level narrative is taking shape.
The last one to follow this path was SOL, from 8 dollars to 250 dollars.
$HYPE ’s story may just be beginning.