Suspected a16z Address Spends 36 million USDC in the Last Two Days to Purchase 44.1k HYPE

BlockBeats News, August 28th, according to on-chain analyst Zhu Huo, the suspected a16z address has spent 36 million USDC to purchase 441,000 HYPE within two days and has staked all in, with an average purchase price of $81.6. The buying spree continues as they have just transferred another 12 million USDC to Hyperliquid to further increase their HYPE holdings.

Currently, the institution has staked a total of 4.826 million HYPE, valued at approximately $404 million, with an average overall purchase price of $66.1, resulting in an unrealized gain of about $84.9 million.