Hyperliquid's (HYPE) token overtook Solana's (SOL) in price on Wednesday, a major milestone for the fast-growing decentralized perpetuals exchange, as most major cryptocurrencies continued to slide.
HYPE reached an all-time high of $74.67 on Tuesday and is currently trading at $73.15, above Solana's $72.35, according to The Block's price data.
The jump comes amid a broad market downturn that has pushed bitcoin, ether, and most other top cryptocurrencies lower by double-digit percentages in the past week.
Hyperliquid (HYPE) price chart. Source: The Block/TradingView
By contrast, HYPE has gained roughly 24% over the past month, making it one of the few top-20 cryptocurrencies in the positive, while Solana has fallen nearly 14% over the same period, sinking to its lowest price since late 2023.
