Hyperliquid (HYPE) is attracting renewed attention following remarks from ARK Invest CEO Cathie Wood, who compared the decentralized exchange to the early days of Solana.
Speaking on the Master Investor podcast, Wood highlighted Hyperliquid’s potential and emphasized that the protocol deserves close observation, especially as it faces emerging competition from the recently launched Aster DEX on the BNB Chain.
While Wood did not confirm whether ARK Invest holds positions in HYPE, her comments have sparked speculation that the token could experience a 7X rally to approach Solana’s current market valuation.
Explosive Growth Since Launch
Hyperliquid’s performance since its November 2024 debut has been remarkable. DefiLlama data shows the protocol’s total value locked (TVL) surged from around $154 million at launch to over $2.2 billion, a 14X increase in under a year.
Additionally, the stablecoin market capitalization on the platform expanded from $1.3 billion to approximately $6 billion, a 550% rise over the past 10 months. These metrics demonstrate strong user adoption and capital inflows, underscoring the protocol’s growing influence in the decentralized finance ecosystem.
Further bolstering Hyperliquid’s profile, the Hyper Foundation recently launched an NFT collection on the HyperEVM network called Hypurr. The collection achieved a floor price of $68,900 and amassed over $45 million in trading volume within 24 hours on OpenSea, positioning it as the fifth most valuable NFT collection globally.
These developments signal strong community engagement and the protocol’s expanding ecosystem, which many analysts see as key drivers for long‑term growth.
HYPE vs. Solana: A 7X Potential?
To rival Solana’s current market capitalization of roughly $114.5 billion, HYPE would need to reach approximately $340 per token, representing a 7.2X increase from its current price. Even on a fully diluted basis, matching Solana implies a price around $114.5, reflecting a more modest 2.4X upside.
While ambitious, analysts point to the protocol’s rapid adoption, growing TVL, and NFT success as potential catalysts for significant price appreciation.
On the charts, HYPE/USDT has recently broken out of a steep downtrend and is retracing into key Fibonacci levels. After bouncing near the $40.38–$41.59 support zone, the token climbed to the 0.382 retracement level at around $48.39.
The next key resistance sits at the 0.236 level near $52.60. Momentum suggests buyers are attempting to reclaim lost ground, and if HYPE holds above $45, a push toward $52–$53 is likely. However, rejection at this level could see a return to $44.99 or a retest of $41.
With its rapid growth, expanding ecosystem, and high‑profile endorsement from Cathie Wood, Hyperliquid is firmly on the radar of crypto enthusiasts and investors. While a 7X surge remains speculative, the combination of adoption trends and technical momentum makes HYPE a token to watch in the coming months.