Lion Group runs this Nasdaq-listed trading platform. They just announced they’re converting all their Solana (SOL) and Sui (SUI) into Hyperliquid (HYPE) tokens. Basically, the idea is to cut down on their average buy-in cost by riding out some market ups and downs, grabbing HYPE when prices dip just right. You know, this kind of shift should make their portfolio work a bit smoother overall. And it sets them up for longer-term growth in the space.
Wilson Wang, the CEO at Lion Group, thinks Hyperliquid is a solid bet in decentralised finance. He points to things like the on-chain order book and how efficiently it handles trades. Plus, there’s this new institutional custody setup from BitGo in the US, which is pushing the company to go all in on HYPE. It shows they’re pretty confident about what Hyperliquid can do down the line. I mean, in a market that’s always shifting, moves like this feel strategic.
Right now, Lion Group has 6,629 SOL tokens sitting there, valued at more than $1.4 million. They’ve also got over 1 million SUI tokens, which come to about $3.5 million. Selling those at today’s prices would let them scoop up over 96,000 HYPE tokens. That’d add to their existing pile of more than 128,000 HYPE. Oh and, this big push into HYPE really shows how committed they are to the platform. It’s like they’re betting heavy on it sticking around.
As per the data, Lion Group’s stock jumped 11% in the regular trading session. Then it climbed another 10% after hours. So yeah, that’s over 20% total gain so far. Investors seem to like this strategic play a lot. It kind of reflects how the market’s getting excited about their dive into Hyperliquid. Anyway, reactions like this don’t happen every day in crypto.
Also Read: Whales Pump $24 Million Into HYPE as Price Targets $60 in September Rally
Lion Group isn’t alone in this. Hyperliquid Strategies and Hyperion DeFi are also planning to buy and hold HYPE tokens. You can see a pattern here, suggesting more folks are eyeing Hyperliquid’s role in the crypto world. As things keep changing in the market, it’ll be worth watching how Hyperliquid keeps up and expands. Like, the potential is there, even if it’s early days.
Lion Group’s choice to go deeper into Hyperliquid shows real belief in its future. They’ve got a clear reason for it, plus this hefty investment backing it up. The company is lining itself up for ongoing progress. And with the crypto scene always evolving, Hyperliquid’s adaptation will be something to track closely.
Also Read: Sui (SUI) Shows Signs of Recovery With Potential Upside to $3.55
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