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Hyperliquid's HYPE briefly surpasses Solana's price amid rising trading volume and new ETF launch

Market News
04 Jun 2026
Unchained
View Source
Bullish
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Hyperliquid's HYPE token briefly traded above Solana's SOL, hitting an all-time high near $75.40 while SOL dropped to its lowest since 2023. Despite Solana's larger market cap, Hyperliquid's growth in derivatives trading and institutional interest is narrowing the gap. Hyperliquid's perpetual futures volume reached a record 6.63% global share, and Grayscale launched the HYPG ETF with a low sponsor fee, boosting investor confidence. Industry experts see HYPE as a strong contender for the second spot behind Bitcoin, with predictions of further price gains by year-end.

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