An address is buying XPL with 30 million USDC, pushing XPL up by over 10%.

According to ChainCatcher, on-chain analyst Yu Jin has monitored that an address is sweeping $XPL with $30,000,000 USDC, pushing XPL up by more than 10% recently. A new wallet withdrew $71,524,000 USDC from an exchange to on-chain, then transferred $30,000,000 USDC to Hyperliquid to purchase XPL.

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