According to CoinMeta and on-chain analyst Yu Jin, a suspected holder of a16z with the largest position in HYPE purchased $HYPE worth 24 million US dollars at a price of $68.7 in June. Recently, they deposited another 36 million US dollars in USDC through 12 addresses into HyperLiquid for the purpose of buying HYPE. To date, they have converted the 24 million US dollars of USDC into 282,090 units of HYPE, at an average price of $81.5 per unit. Currently, this institution has bought and pledged a total of 4.679 million units of HYPE (approximately 381 million US dollars), at an average price of about $65.6 per unit, resulting in a floating profit of around 74.4 million US dollars.