A major HYPE token holder, known as "HYPE Spot Leader," has purchased 687,000 HYPE tokens over the past four days, bringing its total spot holdings to nearly $460 million this year. The whale executed Time-Weighted Average Price (TWAP) buy orders through five addresses, planning to acquire an additional 136,000 tokens valued at approximately $9.65 million. Monitoring by Hyperinsight reveals that these purchases are made daily around mid-morning and executed in batches over 24 hours. The whale is linked to over a dozen on-chain addresses, with funding sources suspected to be connected to a16z, the largest external holder of HYPE. Since 2026, these addresses have accumulated 6.617 million HYPE tokens, now consolidated on the Hyperliquid platform.