Hyperliquid surpasses Solana and controls 35% of the Blockchain revenue in July

At the beginning of the year, Solana was called the “King of Trading on the Series” until the month of July came to turn the equation suddenly.

The Hyperquid platform – a derivative stock exchange for a relatively modern decentralization – managed to acquire the largest share of the Blockchain revenue at a rate of 35%, outperforming Solana, Ethereum, and the BNB series, according to a recent report by Vaneck.

A clear decline in Solana’s performance

In January 2025, Solana was living in the peak of her success, as it exceeded $ 260 with support from the market enthusiasm towards the MC currencies.

It also outperformed the volume of transaction fees over four main chains combined.

This momentum has gradually decreased, and the price of Sol now hovers around $ 163.75, a decrease of 13% since the beginning of the year, which reflects the decline in confidence or at least the apathy in using the network compared to the past.

Hyperliquid captures users and status

The shift in the scene was not limited to the numbers only, but also the behaviors, and Hyperliquid attracted a large segment of active users who were dependent on Solana, and it seems that she succeeded in maintaining their loyalty thanks to its simplicity and effectiveness, especially in the field of permanent contract trading.

This success prompted its HYPE currency to enter among the 15 largest digital currencies in terms of market value, which amounted to 12.5 billion dollars despite its decline by 12% during the last week to settle at about 37.5 dollars.

Between shrunk revenues and troubled projects

It is clear that Solana is suffering from momentum, and although it is still the sixth largest market value (88.1 billion dollars), her DEX network lost 2% of the total closed value during the past week, although it is still 11% during the month.

Solana’s problems did not stop at the numbers, but rather included the stumbling project of the Fredancer project, which was supposed to make a shift in the technical performance of the network, but it was delayed and exposed to problems in human and organizational resources, which raised questions about the ability of Jump Trading to implement its promises.

Ethereum belongs to the scene with the confidence of institutions

With the decline in confidence in Solana, Etharium returns to prove that it is the virtual option for major institutions and projects, and its support for the second layer solutions (L2) helped to attract institutions interested in financial transfers.

The price of ETH has increased by 41% over the past thirty days, compared to only 7% for Solana.

It is clear that there is an institutional shift towards Ethereum as the most mature and stable.