Investors who put $1,000 into HYPE at the start of the year would have about $3,660 by late September 2026, compared with roughly $973 for the same amount of SOL.

Hyperliquid (HYPE) has surged about 266% in 2026 and trades near $93 as of September 27, 2026, while Solana (SOL) is down around 2.7% and sits near $124.

Solana could still have upside given token dynamics and supportive supply, but Hyperliquid’s momentum, buybacks, and treasury purchases may sustain demand even with upcoming unlocks.

Hyperliquid operates as a blockchain-based trading exchange focused on public order recording, whereas Solana is a general-purpose blockchain that supports payments and trading apps and hosts the largest number of tokenized stocks among networks.

Hyperliquid has a relatively small circulating supply—251 million of 952 million total tokens—with insiders’ remaining unlocks potentially adding pressure.

Over the last 60 days, HYPE gained about 70% and over 90 days roughly 47.6%, signaling high volatility and shifting momentum.

If SOL drops below its July close of $74, optimism around Solana could deteriorate, tempering upside prospects toward 2030.

Hyperliquid’s 2026 momentum is fueled by 97% of trading fees being used to buy back HYPE, plus treasury activity and significant HYPE exposure from spot ETFs.

Hyperliquid’s fully diluted valuation is around $89 billion, higher than Solana’s market value at about $73 billion, implying greater upside potential from a fully diluted perspective.

To double by 2030, Hyperliquid would need its total token value to reach roughly $177 billion (about $31 billion higher than today), while Solana would need about $146 billion in market value from its current level.