Hyperliquid's HYPE Overtakes Solana on Fully Diluted Valuation, Within 1.4% of Record High
Hyperliquid's HYPE token has overtaken Solana on a fully diluted valuation basis, with HYPE cited at $54.47 billion versus $54.22 billion for SOL. The token was also about 1.4% below its all-time high of $59.30, set on Sept. 18, 2025.
The latest milestone extends a rally that earlier pushed HYPE briefly above $50. That advance coincided with large buy activity on Hyperliquid, including wallet 0xf605 depositing $19 million of USDC and initiating $15 million of TWAP spot HYPE purchases, while wallet 0x92ea deposited another $10 million after withdrawing $40 million from Binance; separately, data cited by analyst Aletheia showed the first two HYPE spot ETFs outpaced Bitcoin spot ETFs on market-cap-adjusted inflows on three of their first six trading days and topped Ethereum on five.
From the sources (12 posts)
@lookonchainHYPE briefly broke above $50! Whale 0xf605 deposited 19M $USDC into Hyperliquid to buy $HYPE over the past 3 hours. So far, the whale has bought 76,600 $HYPE($3.8M), and the buying is still ongoing.
@wublockchainHYPE Spot ETFs Top Bitcoin in Market-Cap-Adjusted Inflows on Three of First Six Trading Days Crypto analyst Aletheia said that after the first two Hyperliquid spot ETFs had been live for six trading days, their market-cap-adjusted inflows
@arkhamTHIS GUY IS TWAPPING $15 MILLION $HYPE This address 0xf605 deposited a total of $19M USDC to Hyperliquid in the past 4 hours and has initiated TWAP buys for $15M of spot HYPE over the next ~7-8 hours. So far he has purchased $2.9M HYPE. h
@degeneratenewsBREAKING: hyperliquid:native SURPASSES $50
@degeneratenewsNEW: @Bloomberg SENIOR ETF ANALYST @EricBalchunas SAYS "THE HYPERLIQUID ETF $THYP IS GROWING VOLUME EACH DAY SINCE LAUNCH IN THE TENS OF MILLIONS NOW, 8X OVER DAY ONE, WHICH IS REALLY GOOD SIGN OF ORGANIC INTEREST"
@lookonchainA mysterious whale (0x92ea) withdrew 40M $USDC from #Binance, then deposited 10M $USDC into Hyperliquid to buy $HYPE. So far, the whale has bought 22,700 $HYPE($1.16M), and the purchase is still ongoing. https://t.
@degeneratenewsBREAKING: hyperliquid:native IS NOW UP OVER 110% THIS YEAR - OUTPERFORMING bitcoin:native, $ETH, $XRP, solana:So11111111111111111111111111111111111111112, $BNB, $DOGE AND $COIN (@coinbase), WHICH ARE ALL DOWN DOUBLE DIGITS YTD
@coingecko$HYPE just flipped $SOL by FDV. If HYPE were to match SOL's market cap, it would be a 3.7x to $200.
@arkhamHyperliquid has flipped Solana by FDV.
@cointelegraph🔥 BULLISH: $HYPE has flipped $SOL in fully diluted valuation. $HYPE: $54.47B $SOL: $54.22B
@coingecko$HYPE is only 1.4% away from breaking its ATH of $59.30 previously set on September 18, 2025.
@kalshi_cryptoBREAKING: Hyperliquid flips Solana in fully diluted valuation