Alleged a16z-affiliated entities purchased HYPE spot via 12 addresses using TWAP, spending over $24 million in two days.

According to monitoring by TradingBeats (formerly Hyperinsight), a cluster of execution addresses linked to a16z has launched a new round of buying activity. Twelve addresses simultaneously initiated TWAP (Time-Weighted Average Price) orders earlier today, with a planned total purchase of 148,700 HYPE tokens, valued at approximately $12.15 million at the $81.7 per token price; at least $8.49 million of this round’s purchase has been confirmed executed. This round’s capital is seamlessly connected to the previous operation. Earlier, the same 12 execution addresses had invested a total of ~$11.968 million via TWAP to buy 148,100 HYPE. After the purchase was completed, these HYPE tokens were withdrawn to HyperEVM, then transferred one by one to 12 new addresses. All 12 transfer paths were identical: each first transferred 1 HYPE as a test, then the remaining amount. At 10:21 today, these 12 new addresses almost simultaneously deposited the 148,100 HYPE received in the prior round back to HyperCore, with the entire process taking only 12 seconds. Meanwhile, the original 12 execution addresses responsible for the previous purchase received a total of ~$11.998 million in USDC, and immediately launched the new ~$12.15 million HYPE TWAP orders. Partial tracking of prior activity shows the asset flow: ~724,900 HYPE were eventually aggregated into Hyperliquid Staking accounts and remain staked; between August 21 and 24, another ~172,000 HYPE were transferred via intermediaries to Wintermute’s Hot Wallet; around 1,060 HYPE were sent to Coinbase and other addresses. Key address: 0xb5E4d21240e9356caFc3a1261d10383f62DFc24e