Purr USD Price

Hyperliquid Strategies, the digital asset treasury trading under the ticker PURR, has defied the broader collapse in DAT share prices, climbing 251% since the start of the year while peers tied to Bitcoin, Ethereum, and Solana posted dismal returns. Launched 10 months ago by Atlas Merchant Capital founding partner David Schamis, who serves as CEO, the company has grown its market capitalization past $3 billion and now holds more than 35 million HYPE tokens, the native token of the Hyperliquid blockchain, worth roughly $3.3 billion. Unlike Strategy and other DATs that passively accumulate tokens, Hyperliquid Strategies runs its own network validator and stakes its 35 million HYPE tokens to earn ongoing fees and token rewards, adding to the crypto backing each share. The company only issues new shares when its multiple to net asset value is 1.1 or higher and buys back shares below that threshold, and it holds a cash cushion of roughly $292 million as a buffer against a severe downturn. In late August, President Trump said at a White House crypto and technology summit that the Commodity Futures Trading Commission was working to create a legal path for Hyperliquid to operate in the United States, briefly sending PURR shares up 30%, though the rollout of spot HYPE ETFs and expanding perpetual futures access will narrow the company's initial monopoly on institutional access.