on-chain data shows that address 0x8393 sold 249,999 HYPE and bought 7.92 million XPL (about $10.5 million), while two other addresses (0xcc07, 0xF555) deposited USDC into Hyperliquid and bought a total of over 11 million XPL at prices of 1.19 and 1.05.
The movements show large Capital inflows into XPL via Hyperliquid exchange/lending and direct on-chain trading, which could impact liquidation and price volatility in the short term.
- Address 0x8393: sell 249,999 HYPE, buy 7.92 million XPL (~10.5 million USD).
- 0xcc07 deposited $6.27 million into Hyperliquid, buying 5.28 million XPL at $1.19.
- 0xF555 deposits $6 million into Hyperliquid, buying 5.7 million XPL at $1.05.
on-chain transaction summary
on-chain data recorded three large transactions involving XPL and HYPE, including a sale of HYPE and a purchase of XPL, as well as two deposits of USDC into Hyperliquid to purchase XPL at different prices.
The volume of trades and USDC inflows into Hyperliquid indicate concentrated demand for XPL; this impacts exchange/lending liquidation and may cause short-term price volatility.
Details by address
Address 0x8393
0x8393 sold 249,999 HYPE and bought 7.92 million XPL, a transaction estimated to be worth around $10.5 million.
The combination of selling HYPE and buying XPL shows an asset reallocation strategy; large XPL purchases can provide temporary price support but also increase volatility risk if sold quickly.
Address 0xcc07
0xcc07 deposited $6.27 million (USDC) into Hyperliquid and purchased 5.28 million XPL at $1.19 per Token.
The use of USDC on Hyperliquid indicates buying behavior through the platform, increasing buying liquidation at ~$1.19 and possibly influencing order books on the relevant exchange.
Address 0xF555
0xF555 deposited $6 million (USDC) into Hyperliquid and purchased 5.7 million XPL at $1.05 per Token.
Buys below $1.19 from another address show a spread of orders at multiple price levels, creating a support band for XPL but also possibly a price Medium strategy.
Implications for the market
Large USDC Capital into Hyperliquid and on-chain XPL buying volumes could improve buying liquidation , while increasing volatility due to trading concentration.
Investors should take a deeper look at the transaction history of these addresses and the order levels on the exchange to assess the risk, instead of just looking at individual transactions.
How does this transaction affect the price of XPL?
Large purchases can support prices in the short term by increasing demand, but the long-term impact depends on subsequent selling and overall liquidation .
How to check similar on-chain information?
Use blockchain explorer and on-chain analytics tools to XEM address history, transactions, and transfers between wallets, contracts, exchanges, or lending.
What is Hyperliquid and why is it important?
Hyperliquid is a platform where users can deposit USDC and trade/lending; the large inflows to the platform reflect the concentrated buying activity and liquidation on it.
