TLDR
- Hyperliquid (HYPE) price jumped 11.91% in 24 hours, breaking above the 200-day simple moving average to reach $39.02.
- Hyperliquid Strategies Inc. filed an S-1 with the SEC to raise up to $1 billion through a 160 million-share public offering.
- The company currently holds 12.6 million HYPE tokens valued between $470 million and $583 million, plus $305 million in cash.
- Proceeds from the stock sale will be used to buy and stake more HYPE tokens, similar to corporate Bitcoin accumulation strategies.
- Former Barclays CEO Bob Diamond serves as chairman while David Schamis leads as CEO of Hyperliquid Strategies Inc.
Hyperliquid price climbed 11.91% in the past 24 hours to reach $39.02. The rally pushed the token above its 200-day simple moving average.
The price increase comes after Hyperliquid Strategies Inc. filed paperwork with the U.S. Securities and Exchange Commission. The company plans to raise up to $1 billion through a public stock offering.
Trading volume for HYPE increased by 9% to approximately $12 billion. The token reclaimed the 61.8% Fibonacci level at $35.84 during the rally.
🚨 JUST IN:
HYPERLIQUID STRATEGIES INC. FILES S-1 WITH THE SEC TO RAISE $1B THROUGH 160M SHARES.
PART OF THE FUNDS FOR POTENTIAL $HYPE TOKEN PURCHASES. pic.twitter.com/YR6OyUY79L
— Kyle Chassé / DD🐸 (@kyle_chasse) October 23, 2025
Hyperliquid Strategies Inc. formed through a merger between Nasdaq-listed Sonnet BioTherapeutics and Rorschach I LLC. The company filed a Form S-1 to issue 160 million shares of common stock.
Bob Diamond, former CEO of Barclays, serves as chairman of the company. David Schamis holds the position of CEO.
The company currently owns about 12.6 million HYPE tokens. These holdings are valued between $470 million and $583 million based on current prices.
Hyperliquid Strategies also has $305 million in cash reserves. The company can access a $1 billion credit facility for additional token purchases.
Plans for IPO Proceeds
The funds raised from the stock sale will go toward buying more HYPE tokens. The company plans to stake these tokens to earn yield.
This approach mirrors the Bitcoin accumulation strategy used by other public companies. Hyperliquid Strategies applies this model to the HYPE token instead.
The token operates on Hyperliquid’s decentralized perpetual futures trading platform. The platform has seen open interest peak above $2 billion.
Traders are watching the $41.76 resistance level closely. A break above this price point could signal further upward movement.
Market Response to Filing
The price moved between $37.73 and $40.11 in the hours following the S-1 filing news. The rally occurred while broader crypto markets showed weakness.
$ASTER and $HYPE have a lot in common, but what if they end up playing the same playbook on the chart as well?
Massive run after lunch, painful and slow decline to take out the low before going for a parabolic run.
Honestly, I could see this happening. pic.twitter.com/Xev64ahGxg
— Sjuul | AltCryptoGems (@AltCryptoGems) October 23, 2025
Some analysts point to possible dilution risk for current shareholders. The 160 million share offering would create new stock in the market.
The company intends to become a publicly traded crypto treasury management firm. This model focuses entirely on digital asset holdings and operations.
Community sentiment indicators on CoinMarketCap show bullish trends. The SEC still needs to approve the offering before it can proceed.
The token buyback and staking plans could reduce available supply. Whales have been accumulating leveraged long positions on HYPE.
Hyperliquid Strategies Inc. filed its S-1 registration statement with plans to list shares and raise $1 billion for HYPE token accumulation and staking operations.
