PANews reported on July 11 that according to Spot On Chain monitoring, in the past 10 hours, 5 wallets (suspected to be the same entity) each deposited 4.5 million USDC to Hyperliquid, totaling 22.5 million US dollars:

• One wallet spent $4.33 million to buy 99,931.55 HYPE at an average price of $43.3;
• One wallet placed a limit buy order for $4.5 million.
• 3 wallets (with a combined $13.5 million) remain unspent.