Hyperliquid is up today - here is why

• Hyperliquid Strategies plans to raise $1 billion to buy HYPE tokens
• Whale accumulation and institutional adoption drive the price up
• Hyperliquid Open Interest is up by 14%

Hyperliquid aims to raise $1B to buy HYPE for treasury

Hyperliquid Strategies has filed an S-1 registration form with the U.S. Securities and Exchange Commission to raise up to $1 billion through a stock offering. Part of the funds will be used to buy HYPE tokens for its corporate treasury. The filing covers up to 160 million shares and lists Chardan Capital Markets as an advisor, along with merger plans involving Sonnet BioTherapeutics and Rorschach I. This filing helps explain why Hyperliquid is going up: investors expect large token purchases from the company, increasing demand and supporting HYPE’s price.

Data from CoinGlass shows that Hyperliquid is seeing large inflows in both futures and spot trading. On-chain analysis points to growing interest from large buyers. In September, Lion Group announced that it was relocating its Solana and Sui holdings to HYPE. Currently, Lion Group holds 128,929 HYPE tokens valued at over $4.8 million. Asset manager Bitwise filed for a HYPE spot ETF on September 25. These developments are another factor explaining why is Hyperliquid going up.

HYPE’s open interest is up 14% in the last 24 hours, currently standing at over $1.3 billion, according to Coinalyze. This is a bullish indicator that signals new money flowing into the market rather than old positions simply being closed. The rise in open interest supports HYPE’s upward momentum and is part of the overall picture of why did Hyperliquid go up today. Over the past week, HYPE is up about 2.65%, while its monthly performance shows a 20% decline. HYPE’s market cap is over $12 billion, making it the 11th-largest cryptocurrency.