Data: Suspected institution pledged 2.785 million HYPE 11 hours ago, worth approximately 164 million USD

According to MLM monitoring, a whale address that previously accumulated 2.94 million HYPE (approximately $172 million) from September to October last year has staked 2.785 million HYPE through 20 wallets in the past 11 hours, currently valued at approximately $164 million.

On-chain analysts speculate that this address may belong to a16z (Andreessen Horowitz), but this has not yet been officially confirmed. This large staking indicates that the whale is transferring a significant amount of HYPE into the staking system, which may suggest confidence in the long-term development of the Hyperliquid ecosystem.