Hyperliquid Soars Amid $1 Billion Funding Announcement: Best Altcoin to Buy?

The price of Hyperliquid (HYPE) has jumped nearly 11% in the last 24 hours, briefly peaking above $40. This impressive move was sparked by Hyperliquid Strategies announcing plans for a $1 billion equity raise to purchase more HYPE tokens – and catapulted HYPE to the top spot on CoinMarketCap’s “Top Gainers” leaderboard.

On Wednesday, Hyperliquid Strategies filed its S-1 registration statement with the SEC for its upcoming fundraising round. The company plans to issue 160 million shares of common stock as part of the deal, and use a portion of the funds to acquire additional HYPE tokens.

The announcement and the big uptick in HYPE’s price signal huge potential for the coin – and other infrastructure-focused cryptos like Bitcoin Hyper (HYPER), which has raised almost $25 million through its top-trending presale.

Hyperliquid Strategies Bet Big on the Future of HYPE

Hyperliquid Strategies’ filing for a new fundraising round is big news not just for the company, but potentially for altcoins as a whole. The company has been one of the most outspoken supporters of the HYPE token – even when the market hit a more turbulent period following the October 10 flash crash. The vast majority of cryptos are still in the red over the last seven days, but HYPE stands out with a 5.47% gain.

Hyperliquid Strategies already manages 12.6 million HYPE tokens, and has an additional $305 million in cash equivalents. Its most recent SEC filing also shows the company is confident in the long-term potential of the Hyperliquid ecosystem. The company itself was created through an $888 million merger between Sonnet BioTherapeutics and Rorschach I LLC in July, and is focused on growing and evolving its HYPE treasury reserve strategy.

Now, that plan is starting to come to fruition.

According to the SEC filing, Hyperliquid Strategies is preparing to launch its digital asset treasury platform, which it values at $583 million in HYPE tokens. The $1 billion it plans to raise through the stock sale will be in addition to that.

Institutional investment in cryptocurrency has increased recently, especially through Ethereum and Bitcoin ETFs – but companies like Hyperliquid Strategies are leading the way deeper into the altcoin sector. Hyperliquid itself has become hugely popular in the DeFi community, as its Layer 1 blockchain is mainly used to support an on-chain perpetual futures DEX. Taken as a whole, these developments illustrate a deep connection between Wall Street players, cutting-edge DeFi projects, and general bullishness around fundamental Web3 infrastructure plays.

This is why Bitcoin Hyper (HYPER), a project building the fastest-ever Layer 2 chain for Bitcoin, is also performing exceptionally within the crypto presale space and raising tens of millions even before its HYPER token starts trading on major exchange platforms.

Institutional Support for HYPE Signals Potential for Bitcoin Hyper

Bitcoin Hyper (HYPER) is a Bitcoin Layer 2 (L2) project that aims to eliminate Bitcoin’s biggest issues (a lack of programmability, high fees, and slow transactions) in one fell swoop.

To solve these issues, HYPER will integrate the Solana Virtual Machine (SVM), enabling the L2 to process transactions at higher speeds, lower costs, and with low latency.

The project intends to be the fastest Bitcoin Layer 2 chain – and it’s raised a massive $24.6 million in its presale so far. This means that HYPER has already raised roughly as much as Ethereum in its 2014 ICO (around $25 million), adjusting for inflation.

Bitcoin Hyper is designed to make fast and scalable smart contracts a fundamental part of the Bitcoin ecosystem. It will use a decentralized “Canonical Bridge” to ensure that transfers between Bitcoin’s base layer and the L2 remain secure and seamless. Users will deposit BTC into this bridge, which then mints 1:1 Wrapped BTC on the Layer 2 – where it can be used in DeFi protocols, games, meme coin launchpads and other dApps, or converted back to BTC on the main chain at any time.

Ultimately, Bitcoin Hyper is combining the speed of the SVM with the security and brand recognition of Bitcoin. Developers will also have the ability to build new projects on Bitcoin at scale, thereby overcoming the L1’s infamous limitations.

Since the presale follows a dynamic pricing model, HYPER’s per-token value (currently $0.013155) will increase as the sale progresses toward its conclusion. HYPER can also be staked for APYs of up to 48%, even throughout the presale.