On-chain monitoring data shows that a certain address has recently made a large-scale deployment of HYPE tokens. In this single operation, it deposited 1 million USDC into Hyperliquid to increase leverage. Since mid-December, the address has accumulated a total of 12.06 million USDC, building a position of over 480,000 HYPE tokens in multiple batches, with an average cost of approximately $25.07. The movement of this large holding continues to attract the on-chain community's attention, indicating that institutions or major holders are confident in deploying this asset.