Address Shifts $30.5M USDC to Buy 909,000 HYPE Tokens at $33.50 Each

An on-chain analyst reports a large USDC transfer to Hyperliquid fueling a multi-hour purchase of nearly one million HYPE at $33.50 per unit, with 14.5M USDC left to deploy today.

Rich by Coin

2026-01-29

An on-chain analyst said that yesterday an address transferred 45 million USDC to Hyperliquid to purchase HYPE. After more than 10 hours of steady accumulation, the same address had converted 30.5 million USDC into 909,000 HYPE tokens at an average price of $33.50.

The purchase is ongoing, with the remaining 14.5 million USDC expected to be deployed today to acquire additional HYPE. The wallet currently holds 14.5 million USDC and is continuing the deployment to build a larger position in HYPE.