Eyenovia’s $50M Crypto Gamble: Why HYPE Token Just Became Institutional Catnip

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In Brief

• Eyenovia raised $50 million to buy HYPE token and enter the digital asset market.
• CEO Michael Rowe said the move targets diversification and long-term growth.
• Despite rising interest, HYPE’s price dipped over 9% in the past seven days.

Eyenovia’s Strategic Move: From Eye Care to Digital Assets

According to the announcement, the funds will be allocated to the acquisition and holding of HYPE, the native token of Hyperliquid, a decentralised asset exchange and Layer-1 blockchain.

This decision positions Eyenovia as the first publicly traded American company to include HYPE in its treasury. The investment marks a shift towards digital assets in Eyenovia’s long-term strategy. 

CEO Michael Rowe said the focus is on diversification, liquidity, and future growth, with full Board approval after careful review.

We are pleased to join the growing number of companies who have adopted similar strategies for the diversification, liquidity and long-term capital appreciation potential that cryptocurrency represents. Following a thorough review of all available alternatives, the Board and I have concluded that this transaction is in the best interests of our shareholders.

Funding Details and Corporate Changes Underway

As part of the fundraising, Eyenovia is offering investors a mix of preferred shares and warrants. These can either be converted into common shares or allow investors to buy more shares later at $3.25 each.

 If every warrant is exercised, the total capital raised could hit as high as $150 million. However, this depends on how investors respond going forward.

The deal is expected to close around 20 June 2025, pending usual closing conditions. Along with this funding news, Eyenovia also revealed plans to change its name to “Hyperion DeFi” and adopt the ticker symbol “HYPD,” signalling its deepening commitment to the crypto space.

In addition, the company appointed Hyunsu Jung as its new Chief Investment Officer. He will also join the Board of Directors, taking charge of the company’s digital asset strategy and investments.

Notably, a similar trend is unfolding with Lion Group Holding Ltd, another NASDAQ-listed firm. It recently secured a $600 million facility from ATW Partners to support its own HYPE treasury and blockchain plans.

HYPE Token Faces Market Pullback Amid Growing Institutional Interest

Despite the surge in corporate interest, the HYPE token has seen its price dip. Over the last week, the token fell more than 9%, including a 2% drop in the past 24 hours. 

HYPE’s recent price action is under pressure, with key levels in focus. Here’s what the current market signals reveal.

• Resistance around $42 has held firm as sellers dominate, while key support around $37 is facing mounting pressure
• A break below $37 may open the door to further losses, with the next downside zone at around $31
• RSI shows cooling momentum with neutral sentiment as selling pressure rises and volume expands during the dip
• Price action remains weak under critical VWAP levels, including the weekly low and last week’s VWAP at $40.30
• A move above $41.60 could shift sentiment bullish, but for now analysts expect short-term weakness to continue

That said, the news remains fresh, and with growing support, there’s genuine potential for the HYPE token to recover and build momentum going forward.

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