Sonnet Merges into Hyperliquid: Impact on Digital Assets and Market Dynamics

Sonnet BioTherapeutics’ merger with Hyperliquid Strategies Inc. has sent ripples across the digital asset landscape, particularly for HYPE token holders. The $1 billion dollar deal transforms Sonnet from a traditional biotechnology firm into a crypto-focused Nasdaq-listed entity managing over $583 million in HYPE assets. This strategic shift has significant implications for both Sonnet and the broader HYPE market.