Nasdaq Firm Dumps 1M SUI & 6.6k SOL for HYPE – What Do They Know?

Mon, Sep 8, 2025, 12:32 PM 3 min read

Singapore-based Lion Group Holding Ltd. (NASDAQ: LGHL) is making a bold bet in crypto markets, announcing it will dump all of its Sui (SUI) and Solana (SOL) holdings in favor of Hyperliquid (HYPE). The firm plans to offload roughly 1 million SUI and 6,600 SOL, converting them gradually into HYPE to reduce acquisition costs and manage volatility.

This follows LGHL’s earlier announcement that it intends to hold $600 million in reserves with HYPE as its primary treasury asset, making this conversion a key step in aligning its balance sheet with that strategy.

According to LGHL, the move reflects its strategy to optimize reserves by leveraging Hyperliquid’s high-performance Layer 1 blockchain and its decentralized perpetual futures exchange (perps). Hyperliquid has rapidly become the leader in DeFi perpetuals, capturing 70% market share.

In August 2025, Hyperliquid generated $106 million in revenue, up 23% from July’s $86.6 million, with $383 billion in monthly trading volume. It now ranks sixth among decentralized exchanges (DEXs), with $420 million in daily flows and a $1.75 billion total value locked (TVL).

The reallocation comes shortly after BitGo Trust Company launched institutional custody solutions for HYPE in the U.S., giving corporate investors like LGHL regulated, compliant, and secure storage options.

CEO Wilson Wang said the company will pursue a phased accumulation strategy, converting SUI and SOL holdings into HYPE gradually to lower average acquisition costs and capitalize on market volatility.

Wang highlighted Hyperliquid’s on-chain order book and efficient trading infrastructure as a “compelling opportunity” in the DeFi sector.

The reallocation away from SUI and SOL shows a shift in priorities for LGHL. While both SUI and SOL remain strong ecosystems in their own right, neither commands the level of revenue growth and trading activity that Hyperliquid now delivers.

The move follows a trend of Nasdaq-listed companies adding HYPE to their treasuries. Eyenovia was the first publicly traded U.S. company to commit significant reserves to the token, raising $50 million to acquire more than one million HYPE.

Tony G Co-Investment Holdings disclosed a smaller but notable purchase of 10,387 HYPE worth just over $438,000. Also, Sonnet BioTherapeutics announced a digital asset treasury plan anchored in HYPE, with 12.6 million tokens valued at $583 million, alongside an additional $305 million earmarked for future acquisitions, pushing the total to nearly $888 million.