– HYPE Price Shoots 12% on $1B Accumulation News from Hyperliquid Strategies – HYPE Surges 12% After $1 Billion Acquisition Plan Announced – Hyperliquid’s HYPE Rallies 12% Amid Treasury Boost Announcement – HYPE Jumps 12% Following $1 Billion Treasury Development – Hyperliquid Strategies’ $1B Plan Drives 12% HYPE Price Increase
On October 23, the cryptocurrency HYPE, linked to the Hyperliquid decentralized exchange (DEX), rose by 12% amidst a general market downturn. This increase followed the announcement of a $1 billion acquisition plan by Hyperliquid Strategies.
Key Developments
- HYPE is trading at $38.92, up from its weekly low of $34, indicating a potential bullish breakout.
- Daily trading volumes increased by 20% to $690 million.
- Futures open interest for HYPE surged by 20% to $1.55 billion, reflecting investor optimism.
This price movement is driven by the announcement of a $1 billion HYPE treasury, which has boosted market sentiment despite earlier volatility due to token unlock news.
Strategic Moves by Hyperliquid
- Hyperliquid Strategies plans to raise up to $1 billion through a new equity offering filed with the US SEC.
- The funds will support the strategic accumulation of HYPE tokens and corporate operations.
- The firm is undergoing a merger to list on Nasdaq under a new ticker symbol later this year.
Former Barclays CEO Bob Diamond leads the initiative as Chairman, with David Schamis as CEO.