According to on-chain analyst Ai Yi's monitoring, a smart money address (0x746) that profited $9.56 million through ETH swing trading from June to August 2025 is building a position in HYPE. In the past 9 hours, the address deposited 4.01 million USDC into Hyperliquid, of which 2.996 million USDC has been used to buy 63,197 HYPE, at an average price of $47.41. The remaining $1.02 million has been placed as a limit buy order at $47.17.