LGHL to Swap 6,629 SOL & 1M SUI for HYPE Amid US Custody Rollout
Lion Group Holding Ltd (LGHL) will convert 6,629 SOL and 1 million SUI into Hyperliquid (HYPE) tokens, leveraging BitGo Trust’s new U.S. institutional custody service for secure asset management. The Nasdaq-listed firm, backed by a $600 million credit facility from ATW Partners, began accumulating HYPE tokens in June and will use a disciplined strategy to time market volatility. CEO Wilson Wang highlights Hyperliquid’s on-chain order book and efficient trading infrastructure as key growth drivers. HYPE token prices have surged to all-time highs of $53.94, up 9% in 24 hours, while LGHL shares initially dipped before rallying over 20%. Traders should monitor HYPE token momentum and institutional custody developments, which could drive further bullish sentiment in DeFi markets.
Bullish
This news is bullish for the HYPE token. In the short term, the strategic accumulation of HYPE tokens by a Nasdaq-listed firm, backed by a $600 million credit facility, and the debut of BitGo’s U.S. institutional custody service have driven price momentum, evidenced by HYPE token’s 9% rally to record highs. In the long term, sustained demand from LGHL’s portfolio rebalancing and improved institutional access to Hyperliquid’s on-chain order book infrastructure are likely to reinforce liquidity and market confidence, supporting continued growth in HYPE token value.