A whale has staked 2.785 million tokens from their address, worth approximately $164 million, possibly linked to a16z

According to Odaily, MLM monitoring data shows that one of the largest holders of Hyperliquid (HYPE) has recently undertaken large-scale staking operations. On-chain data indicates that this address had accumulated approximately 2.94 million HYPE tokens between September and October last year, currently valued at around $172 million. Over the past 11 hours, the holder has staked about 2.785 million HYPE tokens (worth approximately $164 million) across 20 wallets.

MLM stated that while the identity has not yet been confirmed, market speculation suggests this whale may be associated with the prominent venture capital firm a16z (Andreessen Horowitz). The on-chain address ownership has not been officially verified. This large-scale staking activity may reflect the large holder's confidence in HYPE's long-term ecosystem development, while also potentially reducing the token's circulating supply.