PURR mNAV Analytics
As of market close on Friday, July 24, 2026
Adj. mNAV Multiple0.83x
Premium / Discount-16.51%
PURR Equity Price$6.19
HYPE Token Price$57.49
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Hyperliquid Strategies (PURR) Premium / Discount Analysis

As of market close on 2026-07-24, Hyperliquid Strategies Inc. (NASDAQ: PURR) trades at an adjusted mNAV multiple of 0.83x. This means the equity is currently trading at a Discount of 16.51% relative to its underlying cryptocurrency holdings secured in the corporate treasury.

How We Compute the PURR Multiple to Net Asset Value (mNAV)

This tracking dashboard queries the daily close prices of PURR on the Nasdaq exchange and pairs it alongside the spot tracking pricing index of the Hyperliquid Layer-1 ecosystem native asset ($HYPE). Our system implements the official adjusted treasury accounting methodology utilized by Hyperliquid Strategies Inc. on their investor relations tracking dashboard. Calculations factor in fully diluted share supply distributions, including common shares, Series A Preferred conversions, and outstanding dilutive warrant contracts, offset against corporate tracking cash reserves and calculated deferred tax liabilities.

Methodology & Data Sources

Historical Baseline: Financial data, historical asset values, and baseline corporate structures prior to [INSERT_CUTOFF_DATE] are sourced directly from Hyperliquid Strategies Inc.’s official SEC EDGAR regulatory filings (Forms 10-K, 10-Q, and 8-K).


Real-Time Trackers: Ongoing treasury updates—including active HYPE token allocations, cash reserves, and live adjusted NAV metrics—utilize official public management updates from hypestrat.xyz cross-referenced with public on-chain indexers.


Dilution & Pricing Dynamics: Real-time fully diluted metrics account for in-the-money warrants via the treasury-stock method, which fluctuate based on active PURR market prices. Token pricing is sourced from public exchange feeds and may exhibit minor venue basis differences compared to on-chain DEX spot execution.


Tracking Discrepancies: Between official quarterly SEC reporting periods, core structural constants (such as basic shares) are held uniform based on the most recent regulatory disclosures.