On October 7, blockchain analytics provider Onchain Lens recorded that a single whale address deposited 1764 ETH into Hyperliquid, executed a sale at an average price of $4,707, and received roughly 8.3 million USDC before withdrawing the proceeds from the platform.
On-chain ledger entries confirm the conversion and outbound transfer, leaving no visible on-platform balance for that address in the recorded snapshot. This transaction represents a notable realized USDC inflow derived from ETH liquidity movements, as evidenced by transparent on-chain data rather than off-chain reporting.