Hyperion’s recent earnings turnaround has been impressive—its HYPE holdings have broken 2 million tokens, and it has also been stocking up on KNTQ and HPL. Operations by DeFi listed companies are increasingly starting to look like hedge funds.

On May 16, Hyperion DeFi, listed on Nasdaq, released its Q1 financial report: net profit of $8.8 million, reversing a Q4 loss of $39.8 million. By the end of Q1, it increased its holdings by about 60,000 HYPE, bringing its total holdings to over 2 million; its validation nodes were delegated 10.2 million HYPE, placing it among the top six, just behind the Hyperliquid Foundation. In addition, the company also holds 1.92 million KNTQ and 10 million HPL tokens.