HYPE extended its sharp rally, rising from above $55 to $56.2 and advancing more than 15% over 24 hours. The move pushed Hyperliquid’s fully diluted valuation to $54.107 billion, according to OKX market data, narrowly surpassing Solana’s $54.082 billion. Earlier, HYPE had traded at $55.1, about 7.4% below its all-time high of $59.5; the newer data shows the token moving even closer to that peak while also lifting its implied network valuation higher.