Twelve wallets suspected to be linked to a16z have transferred 24 million USDC to Hyperliquid in the past 20 hours

Odaily Planet Daily News: According to monitoring by on-chain analyst Ember, twelve wallets suspected to be linked to a16z have transferred 24 million USDC to Hyperliquid in the past 20 hours. They are currently buying HYPE via a TWAP (Time-Weighted Average Price) strategy.

They are currently the largest institutional holder of HYPE and one of the main driving forces behind HYPE's continuous new highs in recent months:

Excluding the ongoing buying portion, they have used over one hundred wallets since March to transfer a total of 259 million USDC to Hyperliquid for purchasing and staking 4.035 million HYPE, with an average price of approximately $64. Their unrealized profit stands at about $29 million.