Hyperliquid Strategies is trading $12.08 (+4.50%) after closing at $11.56 on August 26. This surge follows the activation of AQAv2 on August 26, a new framework channeling yield from its $5 billion USDC reserves into HYPE token buybacks and burns. The company is also anticipating its fiscal-year results scheduled for 8:00 a.m. ET on August 27, which are expected to include treasury and staking updates.