Huo Xing Cai Jing reports that, according to on-chain analyst Yujin, the suspected largest HYPE holding institution of a16z continued buying HYPE today. The institution previously purchased 816,000 HYPE tokens at an average price of $81.30, spending $66.4 million in USDC one week ago. Eight hours ago, it transferred $13.05 million in USDC to Hyperliquid and purchased HYPE via TWAP. Currently, the institution has bought and staked 5.201 million HYPE tokens, valued at approximately $445 million, with an average purchase price of around $67.20 and an unrealized profit of approximately $95.18 million.
Suspected a16z institution continues to accumulate HYPE, with current unrealized profit of $95.18M.
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Summary
On-chain data indicates that a suspected a16z institution has continued accumulating HYPE. One week ago, it spent 66.4 million USDC at $81.3 to purchase 816,000 HYPE tokens. Eight hours ago, it transferred 13.05 million USDC to Hyperliquid via TWAP. The institution now holds 5.201 million HYPE tokens, valued at $445 million, with an average cost of $67.2 and a floating profit of $95.18 million. HYPE remains a top altcoin to watch due to strong on-chain activity and significant accumulation.
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