A certain address is buying XPL with 30 million USDC, driving XPL up over 10%

ChainCatcher message, according to on-chain analyst Yu Jin's monitoring, an address is sweeping $30,000,000 USDC to buy $XPL, boosting XPL's recent rise of over 10%. A new wallet withdrew $71,524,000 USDC from an exchange to the chain, and then transferred $30,000,000 USDC into Hyperliquid to purchase XPL.

In just two hours, $13,600,000 USDC has already been used to acquire 10,870,000 XPL at an average price of $1.25, and purchases are still ongoing.