After hitting an all-time high, HYPE price surpasses SOL, Solana falls to lowest level since 2023

Odaily Planet Daily reports that Hyperliquid's HYPE token price surpassed Solana's SOL on Wednesday, while the latter fell to its lowest level since 2023. HYPE hit an all-time high of $74.67 on Tuesday and is currently trading at $74.47, above SOL's $71.62. Over the past month, HYPE has risen approximately 24%, making it one of the few gainers among the top 20 crypto assets, while Solana has fallen nearly 14% during the same period. By market capitalization, Solana still leads with approximately $42 billion compared to Hyperliquid's approximately $16 billion. A valuation report released by CoinShares on Tuesday stated that HYPE is one of the few crypto assets where protocol activity is almost directly translated into token demand, with a baseline target price of approximately $147 in 2031.