Odaily Planet Daily reports, according to on-chain analyst Yujin, one week ago, the suspected a16z entity with the largest HYPE holding spent an average of $81.30 per token to purchase 816,000 HYPE tokens using $66.4 million USDC. Eight hours ago, it transferred another $13.05 million USDC to Hyperliquid and purchased HYPE via TWAP. The entity currently 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, resulting in an unrealized profit of about $95.18 million.
Institutional investor buys 13.05M USDC to purchase HYPE tokens, total holdings reach $445M
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Summary
A suspected major HYPE token holder associated with a16z recently transferred 13.05 million USDC to Hyperliquid, employing a TWAP strategy to purchase HYPE. This follows an earlier acquisition of 816,000 HYPE tokens for $66.4 million. 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. The move appears consistent with a favorable risk-to-reward profile, as the position is currently near key support and resistance levels.
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