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Hyperliquid ($HYPE) has become one of the most popular altcoins in the market lately. At this point, $HYPE is also a target for whales and is included in the portfolios of many of them.
At this point, it is noted that a16z, one of the giant investment companies in the cryptocurrency sector, is also a major $HYPE investor.
According to on-chain analyst ai_9684xtpa, wallets believed to be linked to a16z may have become the sixth largest shareholder in the Hyperliquid ($HYPE) ecosystem.
The analyst, who argued that a16z2 could be the largest external holder of Hyperliquid, stated that the wallet believed to belong to a16z currently holds 9.18 million $HYPE worth $356 million.
According to the data, the wallet added 206,000 $HYPE ($9.95 million) in the last 24 hours and has purchased a total of 2.35 million $HYPE ($102 million) since April 16.
According to the analyst, a16z’s unrealized profit on $HYPE assets is calculated at $79.29 million, with an estimated average purchase price of $38.77.
The analyst argues that all five addresses with the most $HYPE are connected to Hyperliquid’s own ecosystem supply, followed by a16z. This suggests that a16z is the largest institutional holder outside of the project itself.
According to Lookonchain’s report, the whale address “0xde42” sold 50K $HYPE (worth $2.41 million) in the last 10 hours and simultaneously opened a 10x short position on 223,404 $HYPE (worth $10.55 million).
*This is not investment advice.
