Lion Group to Exchange SOL and SUI Holdings for HYPE Tokens
Lion Group (LGHL), listed on Nasdaq, plans to convert all its holdings of SOL and SUI into HYPE tokens. This move aims to leverage the launch of custody services for the Hyperliquid ecosystem by BitGo in the U.S.
The key points include:
- Lion Group will optimize its crypto portfolio using Hyperliquid's decentralized perpetual futures exchange.
- The company initiated acquiring HYPE tokens in late June as part of its Hyperliquid treasury initiative.
- CEO Wilson Wang views Hyperliquid as a significant opportunity in decentralized finance.
- HYPE is currently priced at $51.39, up 9% in the last 24 hours.
- LGHL shares are trading at $1.25, down 7.4% on the day.