Lion Group Holdings (LGHL), a Nasdaq-listed company, announced that it will convert approximately 6,629 SOL and approximately 1 million SUI tokens into Hyperliquid's HYPE token in batches. It currently holds approximately 128,900 HYPE tokens. The company stated that it will adopt a phased strategy to reduce volatility risk and optimize entry prices. Following the announcement, Lion Group's stock price rose by over 11% that day and another 10% in after-hours trading, for a cumulative increase of nearly 20%. Hyperliquid reportedly holds approximately 70% of the decentralized perpetual contract market, with trading volume reaching $383 billion in August, revenue of $106 million, and approximately $1.75 billion in locked-in assets on the platform. (financefeeds)