Hyperliquid Strategies filed a $1 billion application with the SEC.

A notable development has occurred in the crypto market. The price of HYPE token has increased by %7.6 in the last 24 hours, reaching 37.73 dollars. Investors are eagerly following the reasons behind this increase.

Hyperliquid Strategies has filed for a 1 billion dollar IPO with the U.S. Securities and Exchange Commission (SEC). The company plans to use this fund to increase Hyperliquid (HYPE) token holdings and expand its treasury assets. According to the S-1 document submitted to the SEC, the collected revenue will be used not only to increase HYPE token assets but also to finance the company's overall corporate activities.

Hyperliquid will be formed by the merger of Nasdaq-listed biotechnology company Sonnet BioTherapeutics and a special purpose acquisition company named Rorschach I LLC. The completion of this merger is expected this year, with the new company trading on Nasdaq under an yet undisclosed code. Hyperliquid Strategies aims to stand out under the leadership of former Barclays CEO Bob Diamond and the management of David Schamis.

The company's goal is to increase HYPE token holdings and generate staking returns. Currently, the company holds 12.6 million HYPE tokens and 305 million dollars in cash in its treasury. According to the information in the SEC filing, a large portion of these assets is planned to be directed towards staking operations to generate passive income.

Founded in 2023, Hyperliquid has gained a remarkable position among decentralized futures exchanges. The company has conducted over 1.5 trillion dollars in trading volume to date, which boosts investor interest. About %38 of the total supply of HYPE token is allocated to community rewards.

Investors should closely monitor the developments of Hyperliquid Strategies and the rising trend of HYPE token prices. The outcome of the SEC filing could be a decisive factor for HYPE token investors. Future developments may provide significant clues that can shape investors' strategies.