HYPE Treasury’s PURR surged over 17% intraday, with its mNAV rising to approximately $1.078.

On October 29, driven by HYPE’s sustained price surge—breaking above $94—the market net asset value multiple (mNAV) of Hyperliquid Strategies (PURR), a subsidiary of the HYPE treasury, rebounded above 1. According to data from BIT stock platform, PURR’s current mNAV stands at approximately 1.078—representing a ~7.8% premium to its net asset value per share. PURR’s latest trading price is around $11.66, up over 17% intraday. Based on this, its net asset value per share is estimated at roughly $10.81, implying an implied HYPE price of approximately $85.96. On the same day, Intercontinental Exchange (ICE), the parent company of the NYSE, announced plans to partner with Trade.xyz to bring perpetual futures products to U.S. regulated markets.