Lion Group Holding, a Nasdaq-listed firm, has announced the purchase of HYPE tokens valued at $2 million for its treasury, emphasizing its new strategic direction.
Investment Moves of Lion Group Holding
Lion Group Holding has acquired HYPE tokens worth $2 million for its treasury as part of its strategy to expand into the DeFi sector. This investment follows the first announcement of the company's securing a $600 million financing.
Potential of Hyperliquid and HYPE Token
Hyperliquid is known as an on-chain order book decentralized exchange (DEX) that offers cryptocurrency perpetual trading services. Currently, the price of HYPE is $36.16, with a 24-hour trading volume of $275 million, indicating growing interest among traders.
Trends in Institutional Investment in Cryptocurrency
This investment development is also aligned with the broader trend of institutional investment in cryptocurrency, where large and small companies are actively increasing their crypto holdings. Other Nasdaq-listed firms, such as Eyenovia, have also announced plans for Hyperliquid token reserves.
In conclusion, Lion Group Holding's investment in HYPE tokens highlights the growing interest in DeFi services and reinforces the trend of institutional acceptance of cryptocurrencies in the market.
