Suspected a16z-Linked Wallets Add $24M to HYPE Holdings

A cluster of 12 wallets deposited $36 million in USDC into Hyperliquid within one day, and used approximately $24 million to purchase HYPE tokens at an average price of $81.50.

The suspected a16z-linked wallets accumulated and staked approximately 4.679 million HYPE tokens worth around $381 million, according to on-chain analyst EmberCN.

However, the ownership of these addresses remains unverified, with no public statement or filing from Andreessen Horowitz (a16z) confirming their association.

The wallets had converted about two-thirds of their newly deposited USDC into HYPE tokens, leaving around $12 million available within the reported group of wallets.