Crypto Market Shifts into High Gear as HYPE and Solana Rally

The crypto market has turned around in recent days, with several prominent assets posting significant gains. HYPE, a token from Hyperliquid, has reached an all-time high near $98 on September 23, up 20% from a week ago and more than doubling in value over the past year.

Its price momentum is matched by its fundamentals, with open interest climbing to $18 billion and ongoing buybacks fueling the move. The platform now ranks among the top 10 apps by fees and leads on year-to-date revenue, making HYPE a strong large-cap story in the market.

Solana has also found its stride again, trading near $114 after being below $100 for much of the summer. Its market capitalization sits at around $66.5 billion, with daily trading volume near $4.8 billion, reflecting how central Solana remains to crypto.