a16z USDC transfers worth approximately $24 million entered Hyperliquid over the past 20 hours, according to on-chain data shared by EmberCN. The activity involved multiple wallets linked to Andreessen Horowitz.
The funds moved through Circle’s CCTP extension directly into Hyperliquid. At least 12 wallet addresses were involved in the transfers, with several transactions of almost $2 million each.
The blockchain data revealed that the money was deposited in Hyperliquid's decentralized perpetuals trading ecosystem using a time-weighted average price strategy to build up HYPE.