What signal is this? ⚠️ The parent company of the NYSE just backed Hyperliquid, and the very next day a16z started selling HYPE...
The timeline is pretty interesting when you put it all together: On October 29, ICE, the parent company of the NYSE, announced a partnership with Tradexyz to offer compliant perpetual contracts in the U.S. using Hyperliquid's HIP-3 infrastructure, covering crypto, U.S. stocks, indices, commodities, and forex. ICE will handle exclusive operations and also take a small equity stake. The news sent HYPE up 15% immediately.
Then, starting October 30, a16z—the largest external holder of HYPE—has transferred out a total of 233,000 HYPE, worth over $20.6 million. In just the past 16 hours, it deposited 148,000 HYPE into several exchanges, at an average deposit price of $85.26.
A rough estimate puts the profit from selling all these tokens at around $1.14 million. These tokens weren't acquired at a low cost, so a16z looks more like it's systematically trimming its position while liquidity is boosted by the positive news #Hyperliquid #a16z #hype
The timeline is pretty interesting when you put it all together: On October 29, ICE, the parent company of the NYSE, announced a partnership with Tradexyz to offer compliant perpetual contracts in the U.S. using Hyperliquid's HIP-3 infrastructure, covering crypto, U.S. stocks, indices, commodities, and forex. ICE will handle exclusive operations and also take a small equity stake. The news sent HYPE up 15% immediately.
Then, starting October 30, a16z—the largest external holder of HYPE—has transferred out a total of 233,000 HYPE, worth over $20.6 million. In just the past 16 hours, it deposited 148,000 HYPE into several exchanges, at an average deposit price of $85.26.
A rough estimate puts the profit from selling all these tokens at around $1.14 million. These tokens weren't acquired at a low cost, so a16z looks more like it's systematically trimming its position while liquidity is boosted by the positive news #Hyperliquid #a16z #hype
