- Eyenovia is raising up to $150M to build a Hyperliquid treasury and rebrand as Hyperion DeFi (HYPD).
- The company aims to buy up to 1 million HYPE and start staking with Anchorage Digital.
- Despite the big news, HYPE fell 6% as technicals suggest more downside pressure could follow.
Despite some pretty major news hitting the wire, Hyperliquid (HYPE) didn’t hold up too well on Tuesday. The token dropped around 6%—yep, even after Nasdaq-listed Eyenovia announced plans to throw major weight behind a HYPE-based treasury reserve. So, what’s going on?
Eyenovia’s Big Play: $50M Deal and a Treasury Full of HYPE
Here’s the scoop. Eyenovia, known mostly for its digital eye tech, has decided to go full crypto-core. The company just signed a $50 million securities purchase agreement in a private PIPE deal. The goal? Use the raised funds to build out a Hyperliquid treasury and, apparently, become one of HYPE’s top validators.
That move includes issuing over 30 million shares of Eyenovia stock. If warrants tied to the deal are fully exercised, the company could pull in as much as $150 million. With that cash, they’re eyeing a purchase of up to 1 million HYPE tokens.
But it doesn’t stop there. Eyenovia also wants to get into HYPE staking. They’re partnering with Anchorage Digital to help lock down their digital assets and keep things secure.
Name Change, New CEO, and a Crypto Makeover
After the deal closes (likely June 20), Eyenovia’s planning to rebrand as Hyperion DeFi—yep, new name, new ticker: HYPD. Interestingly, they’ll still keep their original business developing their Gen-2 Optejet device, but now with a side of blockchain.
Also worth noting: Hyunsu Jung is stepping in as CEO and joining the board. “Honored and excited” were the words he used to describe leading what he called a “pioneering” crypto treasury strategy centered on HYPE. Ambitious stuff.
This pivot puts Eyenovia in line with other companies like Strategy and DeFi Development Corp., who’ve also shifted to crypto-first reserve models.
Market Reaction: Shrugged Off… For Now
Even with all that buzz, HYPE hasn’t reacted with the excitement you’d expect. It’s down nearly 6% over the past 24 hours, with prices inching toward the lower edge of a key support channel.
If the downtrend keeps rolling, HYPE might find support near the $30.50 level. But if bulls want to flip the script, they’ll need to push the price above the upper channel line and keep it there.
As for indicators—both the RSI and Stochastic Oscillator are still above neutral, but they’re pointing down. A full crossover to the downside could mean more pain ahead, at least short-term.
