As DeFi develops strongly, institutional giants turn their portfolios to hype

With Hyperliquid's native token hitting record highs, a whale investor has purchased 197,000 HYPE tokens worth more than $10 million. Nasdaq-listed Lion Group Holding announced plans to convert all its SOL and SUI tokens (valued at $4.9 million) into HYPE, aiming to capitalize on market volatility and BitGo’s upcoming U.S. institutional hosting services. The HYPE token soared 1,507% in nine months to $51.84, thanks to institutional investors’ adoption and Hyperliquid’s 80% dominance in DeFi derivatives. Lion Group's share price rose 20% after the announcement.