The crypto world was shaken when Hyperliquid Strategies announced their plans to buy more of its native $HYPE token for $1 billion.
The filling outlines plans to issue up to 160 million shares of common stock via a facility with Chardan Capital Markets. [TimesCrypto]'
The conpany intends to use this money to buy more $HYPE and stacke it. In recent times we witness the merger between Sonnet Bio Therapeutics and Rorschach LLC, and has already confirmed Bob Diamond as the Chairman and David Schamis as CEO. [BITGET] .
The company currently holds 12.6 million $HYPE and wants to use the assets primarily for staking activities wit the aim to generate consistent yields over time.
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HYPE influence
In recent days we have witness huge investment into the HYPE token, with the likes of Nasdaq Listed Lion Group had announce that they will convert all their Solana and Sui holdings to Hype and in June they acquire another $2 million worth of HYPE.
The $HYPE rose by 11% reaching $39.02 with some analysts has already predicted a potential 40% surge by New year. [FXEMPIRE ]