Suspected a16z institution spent 36 million USDC over two days to buy 441,000 HYPE, all staked

Odaily News, according to monitoring by on-chain analyst Ember, a suspected a16z entity, the largest HYPE holder, has been continuously buying and staking HYPE over the past two days, investing a total of 36 million USDC to purchase 441,000 HYPE at an average price of approximately $81.6, with all tokens deposited into staking.

Currently, the entity has transferred an additional 12 million USDC to continue buying. Its total staked HYPE has reached 4.826 million tokens, valued at approximately $404 million, with an overall average holding cost of around $66.1 and an unrealized profit of approximately $84.9 million.