HYPE just crossed SOL in price — but the market cap gap is 2.5x
HYPE traded above SOL for the first time in June 2026, reaching ~$73.95 vs SOL's ~$71.28, driven by record 6.63% perp market share and ETF inflows — while Solana's $41B market cap still dwarfs Hyperliquid's $16.5B. Here's the base, bull, and bear case.