Hyperliquid Strategies (PURR) continued its upward momentum, trading near record levels as the company benefits from a favorable regulatory shift and strong underlying business metrics. The stock reached $88.20, its highest point since September 6, reflecting growing investor confidence in the tokenized securities space.
SEC decision opens door for tokenized stocks
The Securities and Exchange Commission (SEC) issued an order granting temporary, conditional exemptive relief to Tokenized Securities Venues, allowing them to trade tokenized National Market System (NMS) stocks using automated market makers and liquidity pools. This move is a significant step toward mainstream adoption of tokenized equities, a topic that has sparked debate among industry leaders. For instance, AMC's Adam Aron and Robinhood's Vlad Tenev have publicly disagreed on whether tokenized stocks represent real assets.
President Donald Trump has also expressed openness to allowing Hyperliquid to operate in the U.S., which could be a major catalyst given the platform's dominance in the perpetual futures market.
Strong business fundamentals drive rally
Hyperliquid's core business is thriving. According to DeFi Llama, its perpetual futures volume exceeded $240 billion in the past 30 days, surpassing the combined volume of competitors like Aster, Variational, Lighter, edgeX, Grvt, and Antarctic. Seven-day open interest has also surged, indicating robust trading activity.
The platform generated over $38 million in fees this month, putting it on track to exceed last month's $67 million. Year-to-date fees total $579 million, which the company uses to accumulate HYPE tokens. Additionally, Hyperliquid's layer-1 network has amassed over $6.8 billion in stablecoins, making it one of the largest chains in the stablecoin ecosystem. Staking fees remain elevated, further supporting the platform's revenue.
HYPE token and PURR stock outlook
The HYPE token has rallied 335% from its yearly low, reaching $88 and hovering at an all-time high. This surge has directly benefited Hyperliquid Strategies, which holds over 33.6 million HYPE tokens valued at approximately $2.9 billion. Staked HYPE tokens yield about 2.23% annually, translating to roughly 750,000 tokens per year—worth over $66 million at current prices—which the company can use for stock buybacks.
From a technical perspective, PURR shares have rebounded from a low of $5.80 to the current $13.80, breaking above the key resistance level of $11.60. The stock has formed a bullish flag pattern, a classic continuation signal, and trades above all major moving averages. Analysts see potential for further upside toward the $15 resistance level, while a drop below $11.60 would invalidate the bullish setup.
Investors should monitor regulatory developments and Hyperliquid's fee generation, as these factors are likely to influence PURR's trajectory. The recent SEC decision and the company's strong operational metrics provide a solid foundation for continued growth.
This article is for informational purposes only and does not constitute financial advice.
