Hyperliquid Strategies Surges 20%: What's Happening with PURR?

Hyperliquid Strategies Inc surged as much as 20% on Thursday after reporting it more than doubled its HYPE treasury tokens to 29.3 million, with zero debt.

What the Earnings Showed

According to a press release from Hyperliquid Strategies, the company raised $647 million in equity capital during the fiscal year ended June 30, 2026, growing its HYPE treasury from an initial 12.5 million tokens to 29.3 million.

Metrics

Cash $149.9M

Debt $0

Shareholders' Equity $1.87B

Net Income $305.5M

Since June 30, the company deployed $773.4 million to acquire approximately 16.5 million additional HYPE tokens at an average cost of $46.77, leaving $132.6 million in cash as of August 19.

"This was the year we built the platform," CEO David Schamis said in the release. "Most of the value created was returned to HYPE holders through programmatic buybacks," he added.

Why Trump's Comments Matter

As previously reported, President Donald Trump said at an August 19 press conference that CFTC Chairman Mike Selig is actively working to bring Hyperliquid to the U.S. in a fully compliant manner.

This direct presidential endorsement sent HYPE and PURR sharply higher in the following days.

What the Hyperliquid Ecosystem Shows

As of June 30, the platform's share of global perpetual futures trading volume hit an all-time high of 9.4%, and as of August 23, Hyperliquid accounted for 63% of all decentralized perpetual open interest—more than five times that of its closest competitor.

In July, real-world asset markets accounted for over 50% of the platform's weekly trading volume for two consecutive weeks, with total open interest reaching a record $13 billion as of August 23.

In the quarter ended June 30, HYPE rose 77%, while the broader digital asset market fell approximately 13% over the same period.

PURR's Technical Picture

PURR surged to $13.85 on Thursday, breaking through the $11 to $11.50 resistance zone that had capped every previous rally since June, with no clear overhead resistance above the current price.

RSI stands at 89.49, indicating extremely overbought conditions, and a pullback to $11.50 is the most likely near-term path before any continuation.

Key PURR Levels:

$11 to $11.50—Breakout retest zone, must hold

$10—20-day EMA, deeper support below