A fresh player just made a bold entrance into the $HYPE game.

A newly created wallet — 0xDc50Cfc6319736c25784C12A96B4acEC686d139c — deposited $17.5 million USDC to #Hyperliquid and has been on a buying spree over the past 2 days, scooping up 517,602 HYPE at an average price of $33.80.

The position is now worth around $18.31 million, and the wallet still holds 224,799.81 #HYPE , valued at roughly $8.05 million.

Is this a short-term flip or a long-term conviction play? Either way, this whale is making waves — and clearly believes the hype.