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Hyperliquid Salip Solana in Fully Diluted Valuation
Hyperliquid's native token, Hyperliquid, officially surpasses Solana's fully diluted valuation (FDV) after a significant price rally in recent times.
Based on the latest market data, HYPE's FDV now reaches approximately $54.47 billion, slightly higher than SOL, which is around $54.22 billion.
This achievement has become a major highlight in the crypto industry, considering Solana has long been known as one of the largest blockchain ecosystems with strong dominance in memecoin, DeFi, and Web3 infrastructure sectors. Meanwhile, Hyperliquid is a relatively newer player but has grown very aggressively through their decentralized perpetual exchange ecosystem.
The surge in HYPE's valuation also reflects the high market interest in decentralized trading infrastructure projects that offer fast trading experiences with low fees.
In recent months, Hyperliquid has successfully attracted the crypto community's attention due to the continuous increase in on-chain derivatives trading volume. Many traders are beginning to see Hyperliquid as a serious competitor to centralized exchanges in the crypto futures market.
However, some analysts warn that FDV does not always reflect the actual valuation fully realized in the market because it considers the total maximum token supply that has not all been circulated.
The valuation competition between HYPE and SOL has now become one of the hot topics in the crypto community, especially amid growing investor interest in the decentralized exchange sector and on-chain trading infrastructure.