Trove Market Pivots From Hyperliquid to Solana

After raising funds for a Hyperliquid-based [HYPE $22.13 24h volatility: 6.5% Market cap: $5.28 B Vol. 24h: $241.97 M](https://www.coinspeaker.com/coins/hyperliquid/) perpetual DEX, Trove Market has abruptly moved to the Solana blockchain. The shift comes just days before its Token Generation Event (TGE). The pivot appears to have hit the TROVE token hard, which dropped as much as 95% over the past 24 hours. Trove Market Has Other Plans Even with the shift of its perpetual decentralized exchange to Solana [SOL $127.9 24h volatility: 4.2% Market cap: $72.41 B Vol. 24h: $4.96 B](https://www.coinspeaker.com/coins/solana/) , Trove Markets says it will retain funds from a token sale originally marketed for integration with Hyperliquid. It only announced the pivot to Solana days before the scheduled token generation event, and this has raised questions among contributors. They are mostly concerned about the disposition of raised funds. > [https://t.co/sc8b59sjYE](https://t.co/sc8b59sjYE) > > — TROVE (@TroveMarkets) [January 19, 2026](https://twitter.com/TroveMarkets/status/2013340048129753283?ref_src=twsrc%5Etfw) For context, Trove Market raised funds via a public token sale to build a perpetual DEX using Hyperliquid’s infrastructure. Addressing contributors’ concerns, Trove has assured them that it would retain a substantial portion of the proceeds to continue development on Solana. It described the decision as necessary to maintain product viability. Within a few minutes of the trading launch, the TROVE token plunged approximately 95%. Unwise, one of the builders on Trove says the pivot was due to the withdrawal of a key liquidity partner who had previously supported the Hyperliquid integration with a significant position. According to the team, development on Hyperliquid became unfeasible as soon as he withdrew his support. This created an urgent need to rebuild the perpetual DEX on Solana. Hyperliquid Records Increased User Count Trove has taken to social media to acknowledge that its handling of the ICO and subsequent decisions caused confusion and led to a lack of trust among participants. Some participants have allegedly received a refund, with more scheduled to follow soon. Related article: Hyperliquid Whale James Wynn Closes BTC Trade, Goes Long on Ethereum It claimed some of the funds went into payment of developer salaries, frontend and backend infrastructure, a chief technology officer, advisory services, marketing, and operating costs. Meanwhile, Hyperliquid is still dominating among its counterparts. It clocked in a massive [$40.7 billion in trading volume](https://www.coinspeaker.com/hyperliquid-takes-lead-over-dex-exchange-aster-with-40-7-billion-trading-volume/) last week. This achievement moved it above competitors like Aster and [Lighter](https://www.coinspeaker.com/lighters-675m-lit-airdrop-becomes-10th-largest-in-crypto-history/), which processed $31.7 billion and $25.3 billion, respectively. In 2025, Hyperliquid celebrated a major public milestone as its [user count rose](https://www.coinspeaker.com/hyperliquid-celebrates-4x-user-growth-in-2025-analysis-reveals-interesting-days-ahead/) to 1.4 million from roughly 300,000 a year earlier in 2024. [next](https://www.coinspeaker.com/portugal-orders-polymarket-shutdown-but-platform-remains-active/) Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content. [Solana (SOL) News](https://www.coinspeaker.com/topics/solana-news/ "Solana (SOL) News"), [Cryptocurrency News](https://www.coinspeaker.com/news/crypto/ "View all posts in Cryptocurrency News"), [News](https://www.coinspeaker.com/news/ "View all posts in News")