A16z-Linked Cluster Purchases $24M in HYPE, Total Position Reaches $381M
A cluster of wallets deposited $36 million in USDC into Hyperliquid over a 24-hour period ending August 27, according to on-chain analyst EmberCN. The group used approximately $24 million to purchase HYPE at an average price of $81.50 per token.
The suspected a16z-linked cluster held and staked around 4.679 million HYPE worth approximately $381 million overall. However, public blockchain records cannot establish the legal owner of an address without additional evidence linking it to a person or company.
The wallets divided purchases across multiple accounts rather than executing one large market order. This activity can reduce visibility and price movement associated with a single transaction. The exact execution strategy was not confirmed by EmberCN.