Nasdaq-listed Lion Group (LGHL) plans to exchange all of its SOL and SUI holdings for HYPE tokens.
The Singapore-based trading platform operator is aiming to capitalize on the launch of custody services for the the Hyperliquid ecosystem in the U.S. by digital asset custodian BitGo.
STORY CONTINUES BELOW
Lion Group said it plans to optimize its crypto portfolio using the Hyperliquid layer-1 network’s decentralized perpetual futures exchange capabilities, in an announcement on Monday.
The company began acquiring HYPE tokens in late June, having previously announced its Hyperliquid treasury initiative. At the time, however, Lion Group said it planned to continue acquiring SOL and SUI.
Lion Group CEO Wilson Wang described Hyperliquid as “the most compelling opportunity in decentralized finance, with its on-chain order book and efficient trading infrastructure.”
“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,” he added.
At the time of writing, HYPE is priced at $51.39, 9% higher in the last 24 hours.
LGHL shares traded at $1.25 of of midday on the East Coast on Monday, a fall of 7.4% on the day.