PANews reported on June 4th that, in accordance to The Block, Hyperliquid’s HYPE token price surpassed Solana’s on Wednesday, with the latter falling to its lowest level since 2023. HYPE hit an all-time excessive of $74.67 on Tuesday and is at present buying and selling at $74.47, larger than Solana’s $71.62. HYPE has risen roughly 24% over the previous month, making it one of many few high 20 crypto belongings to rise, while Solana has fallen almost 14% throughout the identical interval. When it comes to market capitalization, Solana nonetheless leads Hyperliquid by roughly $42 billion in contrast to Hyperliquid’s roughly $16 billion, however the hole is quickly narrowing. CoinShares launched a valuation report on Tuesday stating that HYPE is without doubt one of the few crypto belongings the place protocol exercise virtually immediately interprets into token demand, with a base situation price goal of roughly $147 by 2031.
