🐋 a16z continues to increase its position with HYPE!
On-chain data shows that a wallet believed to belong to the a16z fund has just deposited an additional 13.05 million USDC into Hyperliquid. To limit the impact on market price, the fund is using a TWAP order strategy to gradually accumulate more HYPE.
A quick look at this wallet’s "HYPE stash":
🔹 Holdings: 5.201 million HYPE
🔹 Total value: ~445 million USD
🔹 Average cost basis: 67.2 USD
🔹 Unrealized profit: ~95.18 million USD
a16z’s continuous buying and staking shows a long-term vision and strong confidence in Hyperliquid. This strategic accumulation approach instead of chasing the price higher suggests they are positioning this as a sustainable investment rather than a short-term trade.
Notably, even though it is sitting on nearly 100 million USD in profit, this "whale" has not taken any profits yet, sending an extremely bullish signal about the project’s future growth potential.
👉 Follow the market 24/7 — Follow Channel https://app.binance.com/uni-qr/cpro/Square-Creator-4a0f2008149d?l=en&r=BOZMO8A1
#WhaleAlert #Crypto #OnChain #CryptoMarket #Trading $HYPE
On-chain data shows that a wallet believed to belong to the a16z fund has just deposited an additional 13.05 million USDC into Hyperliquid. To limit the impact on market price, the fund is using a TWAP order strategy to gradually accumulate more HYPE.
A quick look at this wallet’s "HYPE stash":
🔹 Holdings: 5.201 million HYPE
🔹 Total value: ~445 million USD
🔹 Average cost basis: 67.2 USD
🔹 Unrealized profit: ~95.18 million USD
a16z’s continuous buying and staking shows a long-term vision and strong confidence in Hyperliquid. This strategic accumulation approach instead of chasing the price higher suggests they are positioning this as a sustainable investment rather than a short-term trade.
Notably, even though it is sitting on nearly 100 million USD in profit, this "whale" has not taken any profits yet, sending an extremely bullish signal about the project’s future growth potential.
👉 Follow the market 24/7 — Follow Channel https://app.binance.com/uni-qr/cpro/Square-Creator-4a0f2008149d?l=en&r=BOZMO8A1
#WhaleAlert #Crypto #OnChain #CryptoMarket #Trading $HYPE