According to on-chain analyst Ai Yi, a smart money address (0x746) , which profited $9.56 million from ETH swing trading between June and August 2025, is building a position in HYPE. In the past nine hours, this address has deposited 4.01 million USDC into Hyperliquid, of which 2.996 million USDC have been used to purchase 63,197 HYPE coins at an average price of $47.41. The remaining $1.02 million has been placed in a limit buy order at $47.17.