Data: 12 wallets suspected to be a16z have transferred 24 million USDC into Hyperliquid in the past 20 hours

According to on-chain analyst Yu Jin's monitoring, 12 wallets suspected to belong to a16z have transferred 24 million USDC into Hyperliquid over the past 20 hours and are currently buying HYPE through TWAP (Time-Weighted Average Price). They are the largest institutional holder of HYPE at present and one of the main drivers behind HYPE's continuous new highs in recent months: excluding the portion currently being purchased, they have transferred a total of 259 million USDC into Hyperliquid since March using over a hundred wallets to purchase and stake 4.035 million HYPE, with an average price of about 64 dollars, resulting in an unrealized profit of about 29 million dollars.