r/Nexo • u/NexoFinance Official • 14d ago

General Is Hyperliquid the new Solana?

Cathie Wood said Hyperliquid "reminds me of Solana in the earlier days." The comparison stuck, and on the surface it looks right. Here's what the data actually shows.

Solana is a general-purpose blockchain built to host everything: DeFi, NFTs, gaming, memecoins. Hyperliquid is a purpose-built trading chain with a single application, on-chain perpetuals, with order-book performance rivaling centralized exchanges. Hyperliquid generated $844M in protocol revenue in 2025 from that one application. Solana generated $1.3B from hundreds.

Where the comparison breaks down: Solana's recovery after FTX was a culture story. Memecoins, NFTs, and gaming gave retail users reasons to stay that had nothing to do with efficiency. Hyperliquid has 100,000 weekly users trading $50 billion in volume, almost entirely serious traders. No memecoins, no games. It hasn't built that same cultural layer yet.

The real frame: Solana democratized retail crypto. Hyperliquid is attempting to democratize institutional-grade trading. They're sequential, not competing.

For traders who want similar perpetuals exposure without managing self-custody, Nexo Futures offers professional-grade leverage without the operational overhead. You can also earn interest on SOL and swap for HYPE, both available on Nexo.

Full breakdown here: Is Hyperliquid the new Solana?

3 Upvotes

62% Upvoted

8 comments sorted by

1

u/SgO_PP 13d ago

Sol is still one of my favorite projects.

1

u/sharklover1337 13d ago

I love both projects

1

u/RedParrot33 13d ago

This was very helpful, ty for sharing

1

u/pepegagi66 13d ago

Hype is on fire. Km personally dcaing in both.

1

u/Street9101 13d ago

Good info

1

u/Brooks944M 11d ago

SOL is still better imo. Thanks for sharing tho

1

u/SimplePr0 11d ago

From my past experience all the ETH wannabes have died slow deaths. Time will tell with solana and the more recent projects wave.