An institution suspected of being a16z's largest HYPE holder bought and staked more tokens after purchasing $24 million worth of HYPE at $68.7 in June. Over the past day, it deposited 36 million USDC through 12 addresses into Hyperliquid to buy HYPE, spending 24 million USDC on 282,090 HYPE at an average price of $81.5. Its cumulative holdings have reached 4.679 million HYPE, valued at $381 million, with an average purchase price of about $65.6 and an unrealized profit of $74.4 million. The figures were monitored by on-chain analyst Yu Ember and reported by PANews on Aug. 27.