2026

USDC

Gnosis

Hyperliquid

<p><strong>Wallets linked to a16z crypto may have become one of the largest HYPE holders, according to on-chain analysis shared by @ai_9684xtpa.</strong></p>
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 <div class="cn-block-summary__nav tabs"><span>Summary</span>
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   <li>Wallets linked to a16z may hold 9.18 million HYPE, valued near $356 million, analysts estimate.</li>
   <li>The addresses reportedly added 4.92 million HYPE in 2026, including 206,000 tokens recently today alone.</li>
   <li>Hyperliquid demand has risen as HYPE ETFs, buybacks, and trading volume attract fresh market attention.</li>
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<p>On-chain analyst @ai_9684xtpa said wallets linked to a16z may now rank as the sixth-largest HYPE holder. The analyst also <a href="https://x.com/ai_9684xtpa/status/2056911965092798926?s=20" rel="noopener noreferrer nofollow">said</a> the wallets may be the largest external holder outside addresses tied to Hyperliquid’s own ecosystem.</p>
<p>The claim has not been publicly confirmed by a16z. The reports use cautious language, including “linked to” and “may,” meaning the wallet cluster should be treated as an analyst attribution rather than a confirmed company filing.</p>
<p>You might also like: <a href="https://crypto.news/hyperliquids-hype-could-still-be-mispriced-bitwise-says/" rel="noopener noreferrer nofollow"> Hyperliquid’s HYPE could still be mispriced, Bitwise says </a></p>
<h2 class="wp-block-heading" id="strong-wallets-reportedly-hold-356m-in-hype-strong"><strong>Wallets reportedly hold $356m in HYPE</strong></h2>
<p>The wallets are estimated to have accumulated 9.18 million HYPE since August 2025. Binance News, citing the analyst, said the position was valued near $356 million, with an estimated average purchase price of about $38.77.</p>
<p>Lookonchain <a href="https://www.lookonchain.com/feeds/56931" rel="noopener noreferrer nofollow">reported</a> that the addresses added 4.92 million HYPE since the start of 2026, worth about $183 million. It also said the wallets still hold 8.844 million HYPE across dozens of addresses after transfers to exchanges and liquidity providers.</p>
<h2 class="wp-block-heading" id="strong-hype-rally-adds-market-context-strong"><strong>HYPE rally adds market context</strong></h2>
<p>The wallet activity comes during a strong period for HYPE. Related market coverage <a href="https://crypto.news/hyperliquid-price-nears-ath-as-hype-rallies-24-in-6-days/" rel="noopener noreferrer nofollow">showed</a> that Hyperliquid’s token rallied about 24% in six days and moved near its all-time high, helped by ETF demand, USDC growth, and synthetic market activity.</p>
<p>That report also cited Santiment data showing HYPE rose from $38.32 on May 13 to about $47.65. TradingView data in the same coverage placed HYPE near $48, with momentum indicators showing strong buying pressure.</p>
<h2 class="wp-block-heading" id="strong-etf-flows-support-hyperliquid-demand-strong"><strong>ETF flows support Hyperliquid demand</strong></h2>
<p>HYPE has also gained attention from new investment products. Bitwise <a href="https://crypto.news/bitwise-hype-etf-pledges-10percent-fees-to-buybacks/" rel="noopener noreferrer nofollow">said</a> it would use 10% of the management fee from its BHYP Hyperliquid ETF to buy and hold HYPE on its balance sheet. The fund started trading on NYSE on May 15.</p>
<p>Separate <a href="https://crypto.news/hyperliquid-etf-pulls-5m-in-days-21shares-says/" rel="noopener noreferrer nofollow">coverage</a> said Bitwise’s BHYP and 21Shares’ THYP products had topped $5.6 million in combined net inflows after launch. It also said Hyperliquid handles about $8 billion in daily trading volume and more than 50% of decentralized perpetual futures open interest.</p>
<p>Moreover, as recently <a href="https://crypto.news/hyperliquids-hype-could-still-be-mispriced-bitwise-says/" rel="noopener noreferrer nofollow">reported</a>, Bitwise CIO Matt Hougan called HYPE one of crypto’s most mispriced assets, even after its strong 2026 rally. Hougan said investors may still be valuing Hyperliquid as a fast-growing crypto derivatives exchange rather than a broader trading platform.</p>
<p>You might also like: <a href="https://crypto.news/sorted-wallet-raises-4-4-million-from-tether-and-gnosis/" rel="noopener noreferrer nofollow"> Sorted Wallet raises $4.4 million from Tether and Gnosis </a></p>

HYPE whale alert: a16z-linked wallets may rank No. 6

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