Lion Group bets on Hyperliquid as it converts SOL and SUI to HYPE
Lion Group Holding, the Nasdaq-listed trading platform operator, is making a huge bet on Hyperliquid as it announces a reallocation of its Solana and Sui assets.
- Lion Group Holding Ltd. plans to convert its Solana and Sui assets to Hyperliquid’s HYPE.
- The company says its move aligns with desire to tap into Hyperliquid’s growth potential following BitGo’s integration of HyperEVM
In an announcement on Monday, Lion Group said it’s taking a fresh bet on Hyperliquid (HYPE),the decentralized exchange platform that has recently attracted significant attention. Specifically, Lion Group Holding Ltd., which offers an all-in-one trading platform that includes over-the-counter stocks, options, and futures, will reallocate all of its current holdings of Solana (SOL) and Sui (SUI) assets to HYPE. Â
To accomplish this, the company will adopt an accumulation strategy by which it converts all of its SOL and SUI tokens into HYPE. Lion Group plans to undertake this over the coming months, with its decision to pivot to a Hyperliquid treasury strategy coming amid an institutional milestone for the DEX platform, with crypto custody firm BitGo enabling HyperEVM custody for users in the United States.
“We believe Hyperliquid represents the most compelling opportunity in decentralized finance, with its on-chain order book and efficient trading infrastructure,” Wilson Wang, chief executive officer of LGHL, said. “By shifting our holdings from SOL and SUI to HYPE through a disciplined accumulation process, we aim to enhance portfolio efficiency and position the company for sustained growth in the crypto sector.”
Tapping into Hyperliquid’s growth potential
BitGo announced support for HyperEVM in late August, noting that the expansion effort will allow qualified users to tap into BitGo’s custody services to benefit from the growth potential of HyperEVM. One of the key assets in this ecosystem is HYPE, a token that is getting new attention after Hyperliquid revealed plans for its native stablecoin.
According to LGHL, the move to shift SOL and SUI into HYPE will allow it to optimize its crypto portfolio by leveraging Hyperliquid’s potential as a high-performance layer-1 blockchain. Hyperliquid is also a leading decentralized perpetual futures exchange.
Lion Group will take advantage of market volatility to accumulate HYPE at the best prices. The token currently trades around $51.90.
