Hyperliquid Surges to Record High Amid Major Institutional Support
On September 8,Hyperliquid’s price soared to $51.89, marking an all-time high. Valued at $16 billion, Hyperliquid now stands as teh 11th largest cryptocurrency, outshining Chainlink. The rally came after a series of promising developments.
A major milestone was Lion Group’s decision to switch its Solana and Sui holdings to hyperliquid tokens. This Singapore-based NASDAQ-listed firm sees Hyperliquid as a superior investment option for long-term value creation. By gradually purchasing HYPE during downtrends, lion Group demonstrates the token’s growing appeal among institutions.
Lion Group believes Hyperliquid offers “the most compelling chance” in decentralized finance (DeFi). Their endorsement bolsters Hyperliquid’s credibility, signaling safety for potential investors. This move aligns with BitGo’s introduction of HyperEMV custodial solutions in the U.S.,further cementing Hyperliquid’s institutional acceptance.
Another driving force behind the surge is Hyperliquid’s plan to launch its USDH stablecoin. A recent governance vote approved this initiative,set against the backdrop of forthcoming network upgrades. these upgrades aim to slash fees for specific trading pairs by 80% and adjust rebates, enhancing liquidity on the high-frequency DEX platform.
- Hyperliquid reached an all-time high of $51.89 on September 8.
- Lion Group converted Solana and Sui holdings into Hyperliquid tokens.
- The protocol plans to launch a USDH stablecoin alongside network upgrades.
Together, these developments position Hyperliquid as a frontrunner in the ever-evolving DeFi landscape.
