Amnasindhu

06/23 12:57

Why is SOL losing despite Solana beating Hyperliqu

#World Cup Predictions: 100,000 USDT Daily #HTX Invites You to Share 600K USDT in Gift Packs #BTC Prophet: 20-Day 380 Million HTX Challenge Why is SOL losing despite Solana beating Hyperliquid on the revenue front?Solana [$SOL] is generating more app revenue than Hyperliquid [$HYPE], but does that translate to value for token holders? While the former’s revenue stays with apps built on the network, the latter’s model is more directly linked to the $HYPE token. Here’s why that matters… Solana leads app revenue, but Hyperliquid has a clear token link! At the time of writing, Solana was ahead in 24-hour app revenue, generating almost twice as much as Hyperliquid. Now, it may look like a clear win for Solana but for token holders, there’s more. A large part of Solana’s app revenue goes to the applications built on the network, not directly to $SOL holders. Hence, it’s clear that network activity isn’t translating into direct value for the $SOL token. Hyperliquid works differently though. Since much of its revenue comes from its own perpetuals exchange, it has a more direct connection to the $HYPE token through buybacks and burns. $SOL leads Open Interest, but $HYPE isn’t far behind At press time, $SOL had slightly higher aggregated Open Interest at around $2.16 billion, compared to $HYPE’s $2.06 billion. Traders still seemed to have a little more capital around $SOL contracts.

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