PANews reported on May 20th that, according to Lookonchain, the HYPE token briefly broke through $50 during trading. An address "0xf605" deposited 19 million USDC into Hyperliquid over the past three hours to buy HYPE. This address has now purchased approximately 76,600 HYPE, spending about $3.8 million. Further buying is ongoing, and the address still holds a large amount of USDC in its Hyperliquid account for continued accumulation.