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Hyperliquid outpaces Solana in trading volume and price, but Solana's larger supply keeps its market cap lead.

Market News
05 Jun 2026
AMBCrypto
View Source
Bullish
pluang ai news

In Q1 2026, Hyperliquid's perpetual DEX trading volume surged to $1.89 trillion, nearly doubling from the previous year and surpassing Solana significantly in 30-day volume. Hyperliquid's token (HYPE) also saw a nearly 200% price increase, briefly trading above Solana's (SOL) price, signaling strong momentum. Despite this, Solana maintains a market cap more than twice that of Hyperliquid due to its larger circulating token supply. Solana's efforts to reduce token inflation aim to protect its valuation lead as Hyperliquid continues to grow in trading activity and user engagement, suggesting future competition could intensify beyond price to market cap.

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