Hyperliquid Strategies stock continued its strong rally and is now hovering near its all-time high as the HYPE token gains steam and after the Securities and Exchange Commission (SEC) made an important regulatory decision. PURR jumped to $88.20, its highest level since September 6. 

Hyperliquid Strategies is benefiting from key tailwinds

PURR stock continued rising as investors reacted to several important tailwinds. In a major announcement, the Securities and Exchange Commission (SEC) issued an order granting temporary, conditional exemptive relief to Tokenized Securities Venues to trade tokenized National Market System (NMS) stock using automated market makers and liquidity pools. 

The move is important because it will help to promote tokenization of US stocks, an issue that has become controversial in the past few months. For example, AMC’s Adam Aron has feuded with Robinhood’s Vlad Tenev on whether tokenized stocks are real assets. 

It is also an important move because President Donald Trump has expressed his openness to allowing Hyperliquid to enter the US. That would be a big move considering its size in the perpetual futures market. 

Meanwhile, there are signs that Hyperliquid’s business is thriving. Data compiled by DeFi Llama shows that its perpetual futures volume jumped to over $240 billion in the last 30 days. Its volume was much higher than the other top players in the industry, like Aster, Variational, Lighter, edgeX, Grvt, and Antarctic, combined. Its seven-day open interest has also soared. 

The surge has led to more fees. It has made over $38 million in fees this month, meaning that it will pass the $67 million it made last month. In total, the platform has made $579 million in fees this year, an important aspect since it is using the fees to accumulate HYPE tokens. 

Hyperliquid’s other businesses are booming. Its layer-1 network has accumulated over $6.8 billion in stablecoins, making it one of the biggest chains in the stablecoin industry. Its staking fees have also remained at an elevated level. 

All these actions explain why the HYPE token has continued rising this month. HYPE jumped to $88 and is hovering at its all-time high after soaring by 335% from its lowest level this year. 

The surge has benefited Hyperliquid Strategies, a company that owns over 33.6 million HYPE tokens, currently valued at over $2.9 billion. Data shows that staked HYPE tokens yield about 2.23% a year, meaning that it will make about 750k tokens in staking revenue. At the current price, these tokens will be worth over $66 million, which it can use to repurchase its stock.

PURR stock technical analysis

Hyperliquid Strategies stock chart | Source: TradingView

The daily chart shows that the PURR shares have rebounded in the past few months, moving from a low of $5.80 to the current $13.8. It has moved above the important resistance level of $11.60, its highest level on June 1. 

The token has formed a bullish flag pattern, a common continuation sign in technical analysis. It has moved above all moving averages, a sign that bulls are in control. 

The most likely scenario is where it continues rising as bulls target the key resistance level of $15. A drop below the support level of $11.60 will invalidate the bullish outlook.

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