Twelve wallets suspected to be linked to a16z have deposited $24 million in USDC into Hyperliquid, actively purchasing HYPE tokens using the Time-Weighted Average Price (TWAP) method. On-chain analyst Yujin reports that since March, this entity has transferred a total of $259 million in USDC to Hyperliquid, acquiring and staking 4.035 million HYPE tokens at an average price of $64 each.
The entity's current unrealized profit is approximately $29 million, positioning it as the largest HYPE holder and a key factor in the token's recent all-time highs. The strategic accumulation and staking of HYPE have significantly influenced the token's market performance.
Suspected a16z Wallets Deposit $24M USDC into Hyperliquid for HYPE Purchases
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.