a16z Accumulates 9.18 Million HYPE Worth $356 Million, Becomes Largest External Institutional Holder

GateNews
HYPE7.65%
According to on-chain analyst ai_9684xtpa, investment firm a16z has become the largest external institutional holder of Hyperliquid (HYPE), with wallets believed to be linked to the firm holding 9.18 million HYPE tokens valued at $356 million. The analyst reported that a16z added 206,000 HYPE (worth $9.95 million) in the last 24 hours and has purchased a total of 2.35 million HYPE ($102 million) since April 16, with an average purchase price of $38.77 and unrealized profits of approximately $79.29 million. The remaining top four HYPE holders are connected to Hyperliquid's own ecosystem supply, positioning a16z as the largest institutional holder outside the project itself.
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