@Kairos_Res

Looks like @multicoin is consolidating some of their holdings, perhaps preparing to stake 1.77m HYPE tokens (~$111mm worth) after sharing their hyperliquid:native analysis today https://t.co/uHoJ55vX7s

The USDH deployer just sent 138,252 USDC to the Hyperliquid Assistance Fund, its largest transfer to the AF to date, and its first ever in USDC For context, under the new AQAv2, the USDC deployers share ~90% of cost-adjusted reserve yield with the protocol, routed to the AF and auto-converted to HYPE. Hyperliquid said that revenue share begins accruing Aug 26, with the first payment Oct 3 So this one landed ~4 months early. Onchain it traces back through a new conduit to the Circle AQAv2 reserve. To us, this appears as an early test of the rails rather than a full activation hyperliquid:native

Plasma One's new Platinum card requires locking 100,000 plasma:native per cardholder At the current circulating supply of 2.51bn, every 2,500 upgrades absorb ~10% of the float, and 25,000 would consume all of it Only ~400 wallets hold 100k+ XPL today, so nearly every Platinum upgrade is a forced market buy That cohort has grown from 393 to 406 since the tiers went live, with the rise concentrated right at the 100k threshold, the accumulation has started

$PURR disclosed 2,500,932 hyperliquid:native purchased this week, within 3.9% of the estimate we posted yesterday That's ~$170M of buying in one week, roughly 4x what the spot ETFs combined did https://t.co/cjLIHJrxWa

We estimate that @HypeStrat will announce an additional 2,411,579 HYPE tokens tomorrow in their weekly update, bringing their total to 26,064,707 reminder their data lags by one week