Alleged a16z Wallet Transferred 24 million USDC to Hyperliquid to Buy HYPE

BlockBeats News, June 18th, according to on-chain analyst Wu Jinyu's monitoring, 12 wallets suspected to be a16z have transferred 24 million USDC to Hyperliquid in the past 20 hours, currently buying HYPE through TWAP.

a16z is currently the largest institutional holder of HYPE and has been one of the main drivers of HYPE's continuous all-time highs in recent months. In addition to the portion currently being purchased, since March, it has accumulated a total of 259 million USDC into Hyperliquid through over 100 wallets to buy and stake 4.035 million HYPE, with an average purchase price of about $64. The current unrealized gain is approximately $29 million.