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Twelve wallets believed to be associated with a16z have transferred 24 million USDC to Hyperliquid over the past 20 hours.
Svmuu News: According to on-chain analyst Yu Jin, 12 wallets suspected to be affiliated with a16z have transferred 24 million USDC into Hyperliquid over the past 20 hours and are currently buying HYPE via TWAP (Time-Weighted Average Price). They are currently the largest institutional holder of HYPE and one of the main drivers behind HYPE’s continuous new highs in recent months: excluding the portion they are currently buying, they have used more than 100 wallets since March to transfer a total of 259 million USDC into Hyperliquid, purchasing and staking 4.035 million HYPE tokens at an average price of approximately $64, resulting in an unrealized gain of about $29 million.
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