Biotech company Eyenovia, listed on Nasdaq, has announced a significant investment in cryptocurrency, allocating $50 million to HYPE tokens. This move could represent a notable event in the realm of digital assets.
Eyenovia's Investment in HYPE
Eyenovia, a U.S.-based ophthalmic technology firm, announced the acquisition of $50 million in private equity financing aimed at purchasing over 1 million Hyperliquid (HYPE) tokens. This makes Eyenovia the first public company in the U.S. to hold HYPE in its treasury and operate as a Hyperliquid blockchain validator.
Market Position and HYPE's Role
As of June 16, HYPE ranks as the 12th largest cryptocurrency by market cap. The token has surged by 380% since April, reaching a record of $45.57 but was trading at $40.24, down 11% from its peak at press time. Hyunsu Jung, appointed as chief investment officer, called HYPE 'the most robust digital asset,' highlighting its rapid growth and leading on-chain revenue.
Eyenovia's Future Plans
Eyenovia plans to implement a staking strategy with its HYPE holdings and use Anchorage Digital to secure its assets. Additionally, the company will rebrand to 'Hyperion DeFi' and change its ticker symbol to HYPD. While venturing into cryptocurrency, Eyenovia will continue development on its flagship Optejet eye treatment device, expected to receive FDA registration by September. Should other public companies follow Eyenovia’s example, this may significantly increase demand for HYPE tokens.
Eyenovia's investment in HYPE opens new opportunities in the cryptocurrency sphere and may drive increased demand for this token. The planned rebranding and staking strategy also emphasize the company's strategy of expansion and business diversification.
