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Techub News reports that, according to lookonchain, the DeFi protocol Hyperliquid received a large purchase and token staking from an address associated with a16z. On-chain data shows that the address marked as associated with a16z (0xb5E4) bought a total of 1.59M HYPE tokens (approximately $67.46 million) over the past month, and staked 1 million tokens (about $51.2 million) into multiple wallets.