Hyperliquid's native token $HYPE has achieved a significant milestone by surpassing both Ethereum (ETH) and Solana (SOL) in daily fee revenue, generating $1.7 million. This growth stems from Hyperliquid's proprietary Layer 1 blockchain featuring a zero-gas-fee model and fully on-chain order book, which eliminates transaction costs that burden users on competing networks.
Currently trading at $37.47 with a market capitalization of $12.5 billion, $HYPE has seen its circulating supply decrease by 9 million tokens since June, creating deflationary pressure. Platform adoption is accelerating, evidenced by over 300,000 activated HyperEVM wallets and rising Total Value Locked (TVL). The token specifically targets DeFi users seeking lower costs, capitalizing on Ethereum's high gas fees.
While Solana recently outpaced Ethereum in fee efficiency, Hyperliquid's architecture positions it as a more sustainable alternative. The platform's unique value proposition has fueled speculation of $HYPE reaching $50, supported by its deflationary tokenomics and expanding user base.