HYPE Briefly Tops $50 After Wallet 0xf605 Deploys USDC on Hyperliquid

HYPE stayed in focus after wallet 0xf605, identified in newer reporting as Bitforex founder Jin and previously described as a whale hit by $230 million in liquidations, deployed large amounts of USDC across Binance and Hyperliquid. Earlier reporting said the wallet moved about $19 million USDC onto Hyperliquid, bought roughly 76,600 HYPE for around $3.8 million, and helped push HYPE briefly above $50. Newer reporting adds that Jin deposited 39.5 million USDC to Binance, routed 40 million USDC through newly created wallet 0x92ea, sent 10 million USDC to Hyperliquid, bought 42,524 HYPE worth $2.33 million, and reopened a 504.4 BTC 5x long valued at $59.11 million. There is a discrepancy between reports on the Hyperliquid funding and HYPE purchase totals: one cites a $19.01 million deposit with bids for about $1.15 million of HYPE plus roughly $3.8 million in completed buys, while the other cites a 10 million USDC transfer and $2.33 million in HYPE purchases. Both reports agree the trader also held a 504.4 BTC 5x long position, though its value was reported as $38.95 million in one update and $59.11 million in the newer one.