According to ME News, on September 6 (UTC+8), chain analyst Yujin monitored that, one week ago, the suspected largest HYPE holding institution of a16z purchased 816,000 HYPE tokens at an average price of $81.30, spending $66.4 million in USDC. Eight hours ago, the institution transferred another $13.05 million to Hyperliquid and purchased HYPE via TWAP. The institution now holds and stakes a total of 5.201 million HYPE tokens, valued at $445 million, with an average purchase price of approximately $67.20 per token, yielding an unrealized profit of about $95.18 million. (Source: ODAILY)
Institutional investor buys 13.05M USDC to purchase HYPE tokens, total holdings reach $445M
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Summary
A major HYPE token holder, suspected to be a16z, transferred 13.05 million USDC to Hyperliquid on September 6 (UTC+8) to purchase HYPE tokens via TWAP. This follows an earlier acquisition of 816,000 HYPE tokens for 66.4 million USDC at an average price of $81.3. The institution now holds 5.201 million HYPE tokens, valued at $445 million, with an average cost basis of $67.2 and a floating profit of $95.18 million. The move signals strong investor confidence and positions HYPE among the altcoins to watch.
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