Solana (SOL +1.34%) and Hyperliquid (HYPE +3.88%) are both fast, cheap-to-use blockchains. Today, Solana’s market cap is $47 billion, whereas Hyperliquid’s is $17 billion.

So which one is the better buy?

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Where the fees actually flow

The transaction fees that networks capture are one of the most important economic metrics to watch as a crypto investor.

On June 30, Solana’s fees yielded $57,625 in chain revenue, while Hyperliquid pulled in around $2.4 million in fees. The two networks are not in the exact same line of business, as they generally target different user populations, with Solana aiming for a much wider audience, though they do overlap in select areas like tokenized stocks.

On that note, Solana is…