Suspected a16z Address Continues Accumulating HYPE, Unrealized Profit Reaches $95.18 Million

On-chain data indicates that a major institution, suspected to be a16z, has continued to purchase HYPE. The entity previously spent 66.4 million USDC to acquire 816,000 HYPE at an average price of $81.30. Recently, it transferred an additional 13.05 million USDC to Hyperliquid to purchase more tokens via TWAP. Currently, the institution holds and has staked 5.201 million HYPE, valued at approximately $445 million, with an average entry price of $67.20 and an unrealized profit of roughly $95.18 million.