Hyperliquid flips Solana in fees, but is the ‘HYPE’ justified?

Hyperliquid’s $9 billion in volume and profitable mechanisms will make vampire attacks on the network’s liquidity a challenge.

The decentralized perpetual futures trading sector has a new leader: Hyperliquid (HYPE). Launched in December, Hyperliquid has its own layer-1 blockchain, which has surpassed Solana in seven-day fees. 

What’s fueling its rapid growth, and how does HYPE compare relative to Solana’s native token SOL (SOL)?

Protocols ranked by 7-day fees, USD. Source: DefiLlama

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