CoinWorld News reports that 12 wallets suspected to belong to a16z have transferred 24 million USDC into HyperLiquid over the past 20 hours, and are currently purchasing HYPE via time-weighted average price (TWAP). They are currently the largest institutional holder of HYPE and one of the main drivers behind HYPE’s continued all-time highs over the past few months. Since March, through more than 100 wallets, they have transferred a total of 259 million USDC to purchase and stake 4.035 million HYPE, with an average price of about $64 and an unrealized gain of approximately $29 million.

USDC0.02%
HYPE-1.53%
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GateUser-f78f1f3e
· 3h ago
An average price of $64 with an unrealized profit of 29 million, doubling in just three months and more—this is the power of information asymmetry and capital volume.
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GateUser-e72657f0
· 3h ago
a16z is really good at TWAP trading, slowly absorbing $24 million without causing sharp market fluctuations, institutional-level operation
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