Suspected a16z-linked address transfers 118,000 HYPE to OTC platform, valued at approximately $10.7 million.

BlockBeats news, October 31 - According to AI Aunt monitoring, the largest external entity of HYPE, an a16z-affiliated entity, has been suspected of transferring and selling off HYPE since yesterday. Following the disclosure of the Binance hack, the entity transferred 118,016 HYPE in batches to Wintermute, Galaxy Digital, and Cumberland, valued at approximately $10.7 million based on an average price of $90.72.

The purpose of the related transfers remains unclear. The most recent transaction occurred 10 hours ago, and it cannot yet be confirmed whether the entity has actually sold these tokens.