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On Wednesday, the price of Hyperliquid's HYPE token surpassed Solana's SOL, which fell to its lowest point since 2023. HYPE hit a historic high of $74.67 on Tuesday, currently trading at $74.47, higher than SOL's $71.62. In the past month, HYPE has risen by about 24%, while Solana has fallen by nearly 14%. Calculated by market value, Solana is about $42 billion, still leading Hyperliquid by about $16 billion. CoinShares reported on Tuesday that HYPE is one of the few assets whose protocol activities are almost directly converted into token demand, with a target price of approximately $147 in 2031 under the benchmark scenario.