NASDAQ-registered trading platform Lion Group Holding has announced plans to move the entire SUI and SOLANA stash into hype.
The Singapore-based trading platform said in a statement Monday it plans to gradually exchange Solana (SOL) and SUI (SUI) to reduce average acquisition costs by “taking advantage of market volatility and accumulating hype at the best price.”
Wilson Wang, CEO of Lion Group, said the company’s shift to retain all high lipids (hype) “through a disciplined accumulation process” would place a platform for “sustainable growth” to “enhance the efficiency of the portfolio.”
At the same time, the company said the shift to keeping the hype was a bid to take advantage of Crypto Custodian Bitgo’s launch of an institutional hype management solution in the United States.
According to Coingecko, the move marked the highest ever hype, tapping $51.84 for the first time on Monday.
$600 million Cryptocurrency Ministry
The Lion Group in June secured a $600 million facility from ATW partners, funded the launch of the Cryptocurrency Department focused on hype and other altcoins, and cited the inclusion of SOL for its consumer crypto apps and support from the world’s Liberty Financial.
The company’s Sol Holdings is worth over $1.4 million, with around 6,629 tokens, making it number sixth on Coingecko’s Sol Treasury Companies list.
The Lion Group also has over 1 million SUI tokens worth $3.5 million. If the Lion Group sells SOL and SUI at current prices, you can purchase over 96,000 hype, adding the current 128,000 or more hype.
“We believe high lipids represent the most persuasive opportunity in decentralized finance, with its on-chine order book and efficient trading infrastructure,” Wang said.
Stocks respond positively to hype plans
Lion Group’s stock has responded aggressively to the news, ending its latest session green with profits of over 11%.
In trading outside of business hours, Lion Group stocks continued to storm even higher, earning another 10% to trade for $1.65.
Related: Cryptocurrency Ministry set to “Bankey Ride” as premiums narrower: nydig
Other companies are getting hype too
Lion Group is not the only company that has accumulated hype. In July, the High Lipid Strategy, previously Sonnet Biotherapeutics, announced plans to purchase and hold 12.6 million hype tokens.
Meanwhile, US-based biotechnology company Hyperion Defi (formerly Glasses) unveiled its own high lipid sanctuary in June, and has since acquired more than 1.5 million tokens.
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