According to the blockchain analytics platform Lookonchain, an address linked to the prominent Silicon Valley venture capital firm Andreessen Horowitz (a16z) purchased an additional 226,121 HYPE worth $14.5 million today.

The whale (large investor) address has been steadily accumulating volume since April 14. During this period, the address accumulated a total of 3.9 million HYPE worth $192.6 million at an average purchase price of $49.4.

Alongside this massive accumulation trend, the price of HYPE is also showing strong performance. According to CoinMarketCap, HYPE is currently trading at $65.21, up 7.55% from the previous day.