According to on-chain analyst Ai Yi, an entity linked to a16z received 253,947.43 HYPE tokens worth about $15.03 million over the past seven hours on May 28. The analyst said the tokens were withdrawn from major exchanges and market makers at an average withdrawal price of $59.2. At the time referenced in the earlier report, HYPE was trading at $58.13, below the average withdrawal price and about 10% below its all-time high. The transfer marks a sizable on-chain movement of HYPE from trading venues to a wallet associated with a16z, though no reason for the transaction was provided.