Nasdaq-listed trading platform Lion Group Holding has announced plans to shift its entire stash of Sui and Solana into HYPE, the native token of the Hyperliquid blockchain.<\/p>\n
The Singapore-based trading platform said<\/a> in a statement on Monday that it plans to exchange its Solana (SOL<\/a>) and SUI (SUI<\/a>) gradually over time to lower the average acquisition cost by \u201ctaking advantage of market volatility and accumulating HYPE at optimal prices.\u201d\u00a0<\/p>\n Lion Group CEO Wilson Wang said the company\u2019s shift to hold all Hyperliquid (HYPE) \u201cthrough a disciplined accumulation process,\u201d would \u201cenhance portfolio efficiency,\u201d and position the platform for \u201csustained growth.\u201d<\/p>\n At the same time, the firm said the shift to hold HYPE is a bid to capitalize on the launch of institutional HYPE custody solutions in the United States by crypto custodian<\/a>\u00a0 BitGo.\u00a0<\/p>\n The move comes as HYPE hit a new all-time high, tapping $51.84 for the first time on Monday, according<\/a> to CoinGecko.\u00a0<\/p>\n Lion Group in June said it secured a $600 million facility from ATW Partners<\/a> to fund the launch of its crypto treasury with a focus on HYPE and other altcoins, citing the inclusion of SOL because of its dominance in consumer-facing crypto apps and SUI\u2019s backing from World Liberty Financial.\u00a0<\/p>\n The company\u2019s SOL holdings are around 6,629 tokens, worth over $1.4 million, making<\/a> it sixth on CoinGecko\u2019s list of SOL treasury companies.\u00a0<\/p>\n Lion Group is listed as having the sixth-largest SOL treasury by CoinGecko. Source: <\/em>CoinGecko<\/em><\/a><\/p>\n Lion Group also has<\/a> over one million SUI tokens worth $3.5 million. If Lion Group sold its SOL and SUI at current prices, they could buy more than 96,000 HYPE, adding to its current stash of more<\/a> than 128,000 HYPE.\u00a0<\/p>\n \u201cWe believe Hyperliquid represents the most compelling opportunity in decentralized finance, with its onchain order book and efficient trading infrastructure,\u201d Wang said.<\/p>\n Lion Group\u2019s stock price has reacted positively to the news, ending the latest session well into the green with gains of over 11%.<\/p>\n In after-hours trading, Lion Group shares continued to storm even higher, gaining another 10% to trade at $1.65.\u00a0<\/p>\n Lion Group Holdings\u2019 stock price has gained over 20% total. Source: <\/em>Google Finance\u00a0<\/em><\/a><\/p>\n Related: <\/strong><\/em>Crypto treasuries set for \u2018bumpy ride\u2019 as premiums narrow: NYDIG<\/strong><\/em><\/a><\/p>\n Lion Group isn\u2019t the only company stacking HYPE. In July, Hyperliquid Strategies, formerly Sonnet BioTherapeutics, announced plans to buy<\/a> and hold 12.6 million HYPE tokens.\u00a0<\/p>\n Meanwhile, US-based biotech firm Hyperion DeFi, previously Eyenovia, announced its own Hyperliquid reserve in June<\/a> and has since acquired over 1.5 million tokens.\u00a0<\/p>\n Magazine: <\/strong><\/em>Astrology could make you a better crypto trader: It has been foretold<\/strong><\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Nasdaq-listed trading platform Lion Group Holding has announced plans to shift its entire stash of Sui and Solana into HYPE, the native token of the Hyperliquid blockchain. The Singapore-based trading platform said in a statement on Monday that it plans to exchange its Solana (SOL) and SUI (SUI) gradually over time to lower the average 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PLUG<\/a>","rttpg_excerpt":"Nasdaq-listed trading platform Lion Group Holding has announced plans to shift its entire stash of Sui and Solana into HYPE, the native token of the Hyperliquid blockchain. The Singapore-based trading platform said in a statement on Monday that it plans to exchange its Solana (SOL) and SUI (SUI) gradually over time to lower the average…","_links":{"self":[{"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/posts\/29257","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/comments?post=29257"}],"version-history":[{"count":1,"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/posts\/29257\/revisions"}],"predecessor-version":[{"id":29259,"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/posts\/29257\/revisions\/29259"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/media\/29258"}],"wp:attachment":[{"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/media?parent=29257"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/categories?post=29257"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/tags?post=29257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}$600 million crypto treasury\u00a0<\/h2>\n
Stock price reacts positively to HYPE plan\u00a0<\/h2>\n
Other companies are acquiring HYPE too\u00a0<\/h2>\n