a16z-Linked Wallet Buys Additional $15.2 Million of Hyperliquid's HYPE
Summary
- An a16z-linked large investor bought an additional 261,250 HYPE over the past hour in a purchase worth about $15.2 million.
- The investor has accumulated a total of 3.17 million HYPE since April 14 for about $148.5 million, with an average purchase price of $46.8.
- The address is estimated to be sitting on about $33 million in unrealized profit, with large-investor accumulation strengthening alongside Hyperliquid's ecosystem expansion and rising trading volume.
Forecast Trend Report by Period
A large investor believed to be linked to venture capital firm Andreessen Horowitz, or a16z, has added to its Hyperliquid (HYPE) holdings.
On-chain analytics firm Lookonchain wrote on X on May 22 that the whale bought another 261,250 HYPE over the past hour. The purchase was worth about $15.2 million.
The investor has accumulated a total of 3.17 million HYPE since April 14, according to Lookonchain. The total value of those purchases is about $148.5 million, with an average entry price of $46.8.
The address is estimated to be sitting on about $33 million in unrealized profit.
Market watchers say accumulation by large investors has been gaining momentum as the Hyperliquid ecosystem expands and trading volume increases. Hyperliquid is also drawing attention as one of the major DeFi projects as it gains share in the on-chain derivatives market.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
