Tom Lee warns HYPE could surge if Hyperliquid treasury reaches 50% supply

Tom Lee, co-founder of Fundstrat Global Advisors and chairman of BitMine Immersion Technologies, highlighted the growing impact of digital asset treasuries (DATs) on crypto supply dynamics in remarks delivered at Korea Blockchain Week. Lee focused on Hyperliquid and its native token HYPE, stating that accumulations by the project’s dedicated treasury could trigger significant market moves if allocations continue to rise. Hyperliquid, a Layer 1 blockchain platform centered on perpetual futures trading, uses HYPE as its governance, trading, and staking token. DATs like Hyperliquid Strategies (ticker PURR) are responsible for managing large holdings of project tokens.