Wallet 0xed4 (likely Kain Warwick @kaiynne) sold 10,000 vested ILV for 93 WETH, swapped WETH for 300K USDC, and then bridged the stablecoins to Hyperliquid to buy 13,768.6 HYPE at an average price of $21.77 in the past hour:

• ILV sale transaction: 0xd1bb87caf1624abe25503a7058b0809f405c214edeb61e2868fdff3b0b025cea
• USDC bridging to Hyperliquid transaction: 0x362024b601f8fdad1bf3a3754801247b6114dc0564fa921908348ed7f7968f56
• address: 0xed48b856556a69c7c40229c9c4c829b909257c9b
• This address may belong to the entity Kain Warwick (Synthetix founder)

Currently, the founder of Synthetix still holds 25,000 ILV ($817K).

Note that the daily HYPE purchase volume by Hyperliquid Assistance Fund has kept on surging over the past 2 days, totaling 392,130 HYPE ($8.24M) at an average price of $21.

Fig 1. Kain Warwick allegedly sold 10,000 vested ILV for 93 WETH, swapped WETH for 300K USDC, and then bridged the stablecoins to Hyperliquid.

Fig 2. Kain Warwick allegedly then bought 13,768.6 HYPE ($300K).

Fig 3. The daily HYPE purchase volume by Hyperliquid Assistance Fund.