A wallet linked to Andreessen Horowitz pulled another 88,350 Hyperliquid tokens off major exchanges on June 17, a haul worth about $6.4 million at current prices.
The move extends a buying streak that market trackers have followed for months. By Odaily’s tally, the same address has accumulated about 7.335 million Hyperliquid tokens so far this year, with total purchases near $340 million. That works out to an average entry price of $46.46 per token, a level that now looks far below the market.
At Tuesday’s price of roughly $73 on CoinMarketCap, the position shows an unrealized gain of about $193 million. Hyperliquid slipped about 0.8% over 24 hours, but the token remains more than 31% higher than a week ago. That kind of weekly move matters more for trading desks than the daily dip. It suggests demand is still absorbing supply, even after a large run-up.
The wallet’s latest withdrawal is also a reminder that on-chain flows can matter as much as headline price action. Pulling tokens from exchanges usually reduces immediately available supply, which can tighten short-term trading conditions if buyers stay active. It does not guarantee the tokens will stay untouched, and a transfer away from an exchange is not the same as a long-term lockup. Still, the pattern points to conviction.
Andreessen Horowitz has not commented publicly on the address, and the purchases are being tracked through blockchain data rather than an official fund filing. That leaves some room for caution. Wallet labeling can be imperfect, and large addresses sometimes reflect a mix of treasury activity, market making, or internal transfers.
For traders, the key level is still the market price around $73, alongside whether exchange balances continue to shrink. If the buying pace persists while liquidity stays thin, Hyperliquid could remain sensitive to sharp moves in either direction. A reversal in the wallet’s flow, or a broader crypto pullback, would be the first clear test of how much of this rally is built on durable demand.
a16z-linked wallet withdraws another $6.4 million in Hyperliquid
An a16z-linked address withdrew $6.4 million worth of Hyperliquid tokens, showing active liquidity movement. The address has bought $340 million worth of tokens in 2026 with significant unrealized gains, indicating strong institutional interest.