The trading platform listed in the NASDAQ announced plans to move the entire Sui and Solana stash to the hype, the native token of the Hyperliquid Blockchain.
Singapore -based trading platform Says In a statement on Monday it plans to exchange its Solana (Sol) and sui (Sui) gradually over time to reduce the average extraction cost by “exploiting market volatility and accumulating hype at the best price.”
Lion Group CEO Wilson Wang said the company’s move to handle all hyperliquid (hype) “through a discipline of accumulation process,” will “enhance portfolio efficiency,” and position the platform for “long -term growth.”
At the same time, the firm said the move to handle the hype was a bid to achieve the launch of institutional preservation solutions in the United States of Crypto custodian Bitgo.
The move came as the hype hit a new all-time high, taping at $ 51.84 for the first time on Monday, According to In coingecko.
$ 600 million crypto treasury
The Lion Group said this in June That -secure a $ 600 million facility from ATW partners To fund the launch of the Crypto Treasury with a focus on the hype and other Altcoins, citing Sol’s union for its dominance over facing crypto apps and Backing SUI from the World Liberty Financial.
The company’s Sol Holdings are around 6,629 tokens, worth more than $ 1.4 million, Working Sixth in the list of coingecko Sol Treasury companies.
Lion Group din May More than one million SUI tokens cost $ 3.5 million. If the Lion Group sells its Sol and Sui at current prices, they can buy more than 96,000 hype, adding to the current stash of More than 128,000 hype.
“We believe that hyperliquid represents the most compelling opportunity for decentralized finances, along with the Onchain Order Book and good trade infrastructure,” Wang said.
Stock price positively react to hype plan
The Lion Group’s stock price positively reacts to the news, finishing the latest green session with the acquisitions of more than 11%.
During the trading time, the Lion Group’s sharing continues to storm even higher, getting another 10% to trade at $ 1.65.
Related: Crypto Treasury is set for ‘bumpy ride’ as narrow premiums: Nydig
Other companies also get hype
The Lion Group is not the only company that is stacked with hype. In July, the strategies of hyperliquid, former sonnet biotherapeutics, announced plans to buy and hold 12.6 million hype tokens.
Meanwhile, US -based firm Hyperion Defi, previously Eyenovia, announced its own hyperliquid reserve in June And since the acquisition of more than 1.5 million tokens.
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