TLDR
- Lion Group to convert all Solana and Sui holdings into Hyperliquid HYPE tokens.
- HYPE reached a new all-time high of $54.58 amid strong market activity.
- Lion Group’s stock surged 11% after announcing its HYPE accumulation strategy.
- Institutional interest in Hyperliquid grows with BitGo custody and VanEck support.
Nasdaq-listed trading platform Lion Group announced plans to gradually convert its Solana (SOL) and Sui (SUI) holdings into Hyperliquid (HYPE). The company aims to optimize acquisition costs by gradually exchanging its tokens over time.
Wilson Wang, Lion Group’s CEO, said the move is part of a “disciplined accumulation process” to enhance portfolio efficiency and support long-term growth. He added, “This approach positions the platform for sustained growth while taking advantage of market volatility.”
The decision coincides with the launch of institutional HYPE custody solutions in the United States by crypto custodian BitGo, which the firm plans to leverage.
HYPE Token Reaches New Highs
The Hyperliquid token (HYPE) surged to a record $54.58 on Monday, up 10% in a single day. Daily trading volumes on exchanges such as Bitget and Bybit reached $570 million, reflecting heightened market activity.
Analysts note that HYPE has followed a strong upward trend since breaking its August downtrend. Repeated support retests have held firm, pushing the token past the $52 resistance level and suggesting momentum toward potential highs near $56.
Lion Group’s announcement to accumulate HYPE contributed to positive market sentiment, with its stock rising over 11% in the regular session and gaining an additional 10% in after-hours trading.
Lion Group’s Crypto Holdings and Treasury Strategy
Lion Group currently holds approximately 6,629 SOL, valued at $1.4 million, and over one million SUI, worth $3.5 million. These assets, if sold at current prices, could convert into more than 96,000 additional HYPE tokens, adding to its existing 128,000 HYPE.
In June, Lion Group secured a $600 million facility from ATW Partners to launch a crypto treasury, initially focusing on HYPE, SOL, and SUI. The treasury strategy emphasized SOL for its adoption in consumer apps and SUI for its backing by World Liberty Financial.
Wilson Wang stated, “We believe Hyperliquid represents the most compelling opportunity in decentralized finance with its on-chain order book and efficient trading infrastructure.”
Growing Institutional Interest in Hyperliquid
Lion Group is not the only firm investing in HYPE. Hyperliquid Strategies and U.S. biotech firm Hyperion DeFi have also accumulated millions of HYPE tokens, signaling growing institutional adoption.
VanEck CEO Jan van Eck praised Hyperliquid’s technology, governance, and innovation through a recent post on X, highlighting the firm’s active role in advancing decentralized finance. Multiple institutions have submitted governance proposals to support Hyperliquid’s USDH stablecoin, showing increased interest in its infrastructure.
With growing institutional adoption and active accumulation by Nasdaq-listed Lion Group, HYPE is positioned for continued market attention.
