The Nasdaq-listed financial services firm, Group Holding (LGHL), has reportedly bought $2 million of Hyperliquid’s HYPE token for its treasury. Underlining the company’s strategic pivot, this strategy aims to capitalize on Hyperliquid’s high-performance and cost-effective DeFi trading services.
Not yet officially announced, the news highlights Hyperliquid’s appeal as an on-chain order book decentralized exchange (DEX) for crypto perpetual trading. This move follows the first disclosure of the company securing a $600 million facility to carry out the investment.
With a current market price of $36.16 and a 24 hour trading volume residing at $275 million, HYPE is gaining traction among traders as Hyperliquid DEX continues riding the trend.
The development also aligns with a broader trend of institutional adoption in the crypto market, with several large, small, micro and macro corporations securing crypto holdings. Reinforcing this shift, other Nasdaq-listed firms—such as Eyenovia—have also recently announced plans for Hyperliquid token reserves.
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