An entity linked to a16z has withdrawn 88,350 HYPE tokens valued at $6.4 million from major exchanges, according to on-chain analyst Ai Yi. This move is part of a larger strategy that has seen the entity amass a total position worth $340 million since 2026, with an average acquisition price of $46.46 per token. The wallet is currently holding an unrealized profit of $193 million. Recent reports indicated that this wallet has accumulated 1.22 million HYPE tokens over the past two weeks, which have been deposited into staking.