Whales are buying gold, not crypto.

~30 mins ago, whale 0x6B99 deposited 1.53M $USDC into Hyperliquid to buy $XAUT again.

He has already bought 481.6 $XAUT($2.38M) and still holds 1.44M $USDC, which may be used to buy more $XAUT.

https://hypurrscan.io/address/0x6B99CCE3c492f0e5d0D089A3364145AFa673adfb#txs