Lion Group doubles down on investment in Hyperliquid as HYPE hits new highs

Lion Group Holding, a trading platform listed on Nasdaq, has announced plans to transfer all of its Sui and Solana holdings to HYPE, the native token of the Hyperliquid blockchain.

In a press release on Monday, the Singapore-based trading platform announced that it intends to gradually convert Solana and SUI into HYPE, in order to reduce the average purchase cost by "leveraging market volatility and accumulating HYPE at optimal prices."

CEO of Lion Group, Mr. Wilson Wang, stated that the company's transition to holding the entire Hyperliquid (HYPE) "through a disciplined accumulation process" will "enhance portfolio efficiency" and position the platform for "sustainable growth."

At the same time, the company also stated that the transition to holding HYPE is an effort to capitalize on the opportunities presented by the launch of HYPE custody solutions for institutions in the United States provided by the cryptocurrency custodian BitGo.

This move comes in the context of HYPE reaching a new all-time high, hitting $51.84 for the first time on Monday.

600 million USD cryptocurrency treasury

In June, Lion Group announced that it had received a funding of 600 million USD from ATW Partners to support the launch of its cryptocurrency treasury, focusing on HYPE and other altcoins. This decision was made due to reasons including the dominance of SOL in consumer-facing cryptocurrency applications and the support of SUI from World Liberty Financial.

The company currently holds approximately 6,629 SOL, worth over 1.4 million USD, ranking sixth on the list of companies owning SOL treasury.

In addition, Lion Group is also holding over one million SUI tokens, worth 3.5 million USD. If Lion Group decides to sell SOL and SUI at the current price, they could purchase an additional 96,000 HYPE, increasing the total number of HYPE to over 128,000 tokens.

"We believe that Hyperliquid represents the most attractive opportunity in the decentralized finance space, with on-chain order books and efficient trading infrastructure," Mr. Wang emphasized.

Stock prices react positively to HYPE plan

The stock price of Lion Group reacted positively to this information, ending the recent trading session with an increase of over 11%.

Lion Group Holdings' stock price has increased a total of more than 20% ~ Source: Google FinanceIn after-hours trading, Lion Group's stock continued to rise sharply, recording an additional increase of 10%, reaching $1.65.

Other companies are also accumulating HYPE

Lion Group is not the only company accumulating HYPE. In July, Hyperliquid Strategies, formerly known as Sonnet BioTherapeutics, announced plans to buy and hold 12.6 million HYPE tokens. At the same time, the biotechnology company Hyperion DeFi, previously Eyenovia, also announced its own Hyperliquid reserves in June and has acquired over 1.5 million tokens since then.

Mr. Giáo