NASDAQ-listed Eyenovia is diving into crypto in a big way. The eye care tech company has announced a bold move into digital assets, raising $50 million to buy HYPE—the native token of Hyperliquid, a decentralized asset exchange and Layer-1 blockchain.
This investment not only makes Eyenovia the first publicly traded U.S. company to add HYPE to its treasury, but it also signals a major pivot toward the world of decentralized finance (DeFi).
From Digital Eye Care to Digital Assets
Eyenovia’s CEO, Michael Rowe, said the move aligns with the company’s long-term strategy of diversifying its holdings. He stated:
“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.”
The $50 million capital raise came through a Securities Purchase Agreement with institutional investors, offering a mix of preferred shares and warrants. These warrants could be converted into common stock at $3.25 per share, potentially increasing the total raise to $150 million depending on future investor interest.
Big Changes Coming for Eyenovia
The company isn’t stopping with just a token purchase. Eyenovia plans to rebrand itself as “Hyperion DeFi” and will trade under the new ticker HYPD. In addition, it has appointed Hyunsu Jung as Chief Investment Officer, who will also join the Board of Directors to lead the company’s crypto investment strategy.
HYPE Token Struggles Despite Institutional Interest
Interestingly, even with Eyenovia’s major investment and similar moves from firms like Lion Group Holding Ltd, the HYPE token has been under pressure. Over the past week, HYPE has dropped more than 9%, with resistance holding firm near $42 and support weakening around $37.
Analysts warn that if the token dips below the $37 level, it could fall further toward $31. Still, momentum indicators such as the RSI suggest the market is cooling off rather than crashing. A bounce above $41.60 could spark a bullish reversal if investor sentiment shifts.
What This Means for Crypto and Wall Street
Eyenovia’s leap into DeFi marks a growing trend of traditional public companies entering the crypto space—not just through partnerships but by actively investing in digital tokens. While the market has yet to reflect bullish price action, this institutional backing might help drive long-term adoption and recovery for tokens like HYPE.
As more corporations experiment with blockchain assets, the line between Wall Street and Web3 continues to blur.
