Hyperliquid flips Solana in fees, but is the ‘HYPE’ justified?
Hyperliquid’s $9 billion in volume and profitable mechanisms will make vampire attacks on the network’s liquidity a challenge.
The decentralized perpetual futures trading sector has a new leader: Hyperliquid (HYPE). Launched in December 2024, Hyperliquid has its own Layer-1 blockchain, which has surpassed Solana in 7-day fees.
What’s fueling its rapid growth, and how does HYPE compare relative to Solana’s native token SOL (SOL)?
Protocols ranked by 7-day fees, USD. Source: DefiLlama
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Author: Marcel Pechman
