In the fast-paced world of crypto, big moves by anonymous wallets often signal upcoming trends or just plain old speculation. Recently, onchain sleuths spotted a fresh wallet making a splash: it withdrew a whopping $10 million in USDC from Coinbase, the popular exchange. USDC, for those new to the scene, is a stablecoin pegged to the US dollar, making it a go-to for transferring value without the volatility of other cryptos.

This wallet didn't stop at withdrawal. It funneled $9 million into HyperLiquid, a decentralized perpetual futures exchange known for its high-leverage trading options. There, it opened a long position on Ethereum (ETH) with 3x leverage—basically betting that ETH's price will rise, amplified by borrowing funds to increase potential gains (or losses).

But that's not all. The wallet also placed a TWAP order to buy $3 million worth of XPL on the spot market. TWAP stands for Time-Weighted Average Price, a strategy that spreads out buys over time to minimize market impact, especially useful for large orders in less liquid markets.

The details come from a post by @OnchainLens on X, highlighting the wallet's activity. You can dive deeper into the transactions on Hypurrscan, a blockchain explorer for HyperLiquid.

XPL, the native token of the Plasma project, has had its share of drama. Just a couple of months ago in August 2025, it was at the center of a market manipulation scandal on HyperLiquid, where whales pumped the price, leading to massive liquidations and profits for the manipulators. Reports from sources like DL News detailed how a trader netted $15 million in a coordinated anomaly, exposing vulnerabilities in the platform's futures market.

이것이 밈 토큰에 의미하는 바는?

Moves like this often ripple through the meme coin ecosystem, where speculation runs high. XPL, while tied to a project, exhibits meme-like volatility—perfect for traders chasing quick gains. This whale's bet could indicate confidence in an upcoming pump or broader market recovery, especially with ETH involved.

If you're into meme tokens, keeping an eye on such onchain activities can give you an edge. Tools like OnchainLens simplify tracking these whales, turning complex data into actionable insights.

HyperLiquid의 역할

HyperLiquid has been gaining traction as a spot and perps platform, especially after incidents like the XPL manipulation prompted added safeguards, as noted by CoinMarketCap. It's a reminder that while DeFi offers freedom, it comes with risks—leverage can amplify wins but also wipeouts.

In a reply to the post, user @Danielithoo_ commented that the "$usdc moves look smart," echoing the sentiment that this could be a calculated play.

As always in crypto, do your own research—whale watching is fun, but markets are unpredictable. Stay tuned to Meme Insider for more breakdowns on token movements and meme coin strategies.