PANews reported on January 19 that, according to Onchain Lens monitoring, a newly created wallet withdrew 25 million USDT/USDC from Binance and OKX, then deposited 5 million USDC into Hyperliquid, supplied 20 million USDT to HyperLend, and borrowed 400,000 HYPE.

Meanwhile, the whale has transferred 5 million USDC into a spot wallet, likely for the purpose of purchasing HYPE.