a16z: Withdraws 2.6M HYPE at $51.17 Average

a16z continues aggressive accumulation of HYPE, withdrawing 2.597 million tokens worth $13.29 million over the past 24 hours at an average price of $51.17, with 73,000 tokens later re-deposited to exchanges for unclear purposes.

The venture firm now ranks as the potential sixth-largest holder overall and the largest external entity, having built a position of 8.844 million HYPE since August 2025 at a cost basis of $38.77, generating roughly $79 million in unrealized gains at current levels.

Price action on the 4h chart shows HYPE trading inside the Bollinger Bands near the upper resistance at $58.19 while RSI(14) sits at 81.03 in overbought territory and MACD maintains its bullish golden cross above 3.27; with the 50-EMA providing concrete support at $47.14, a measured retracement toward that level appears probable before any continuation higher.