Hyperliquid Strategies Buys Another $45.8 Million of HYPE
The publicly traded treasury is increasing its exposure to Hyperliquid’s native token, while HYPE has far outpaced Bitcoin and Ethereum this year.
Key Takeaways
- Hyperliquid Strategies bought another 494,200 HYPE worth $45.8 million.
- Over the past month, the linked wallet bought 5.51 million HYPE for about $476 million.
- The total position grew to 35.1 million HYPE, worth around $3.2 billion.
Hyperliquid Strategies has bought HYPE again, this time 494,200 tokens worth $45.8 million (€40.3 million). The purchase fits into a month-long string of buys by the company’s treasury, which is further increasing its bet on Hyperliquid’s token.
Month-Long Buying Spree
According to Lookonchain, the wallet linked to Hyperliquid Strategies bought 5.51 million HYPE over the past month, worth about $476 million (€419 million). That works out to an average of 183,574 tokens per day, or about $15.86 million (€14 million).
The company’s position has now climbed to 35.1 million HYPE, worth about $3.2 billion (€2.8 billion). At the end of June, when the fiscal year ended, that number was still around 29.3 million tokens. Hyperliquid Strategies reported net income of $305.5 million (€269 million) for that fiscal year, mainly thanks to price gains on HYPE. Unrealized profit on the holdings came to $709.9 million (€625 million).
HYPE Pulls Ahead of BTC and ETH
The buying spree came alongside a strong year for HYPE. The token is up 280% so far in 2026. Bitcoin is down 5.42% this year and Ethereum is down 10.98%.
Hyperliquid is the native token of Hyperliquid, a decentralized perpetual futures exchange on its own Layer 1 blockchain. In the first quarter of 2026, protocol fees came in at $215 million (€189 million), keeping the platform in place as a major on-chain perpetuals player.
HYPE’s growth also fits the broader expansion of the platform. For example, Hyperliquid recently increased its equity facility to free up extra capital for the token treasury.
Why This Matters
For European crypto followers, this shows how a publicly traded treasury can become increasingly tied to one token. That can matter for how these companies are valued, since their results then move closely with the performance of a single crypto asset. At the same time, it makes clear that HYPE is being watched not just as a trading token, but also as a core part of a company balance sheet.
