A wallet reportedly linked to Hyperliquid Strategies continues to accumulate $HYPE. According to Lookonchain data, the address associated with the company purchased 494,200 $HYPE in the last 16 hours.
The monetary value of the latest purchase was estimated at approximately $45.8 million. Thus, the total $HYPE purchases made by this wallet in the last month alone reached 5.51 million tokens, worth approximately $476 million at current market value.
The wallet’s average daily purchases are 183,574 $HYPE, approximately $15.86 million. Hyperliquid Strategies’ total holdings are reported to have reached 35.1 million $HYPE, worth approximately $3.2 billion.
However, while on-chain data shows the link between an address and a company, each transfer should be evaluated separately based on the transaction structure to determine whether it is a new purchase directly made in the open market.
Companies like Hyperliquid Strategies are known as cryptocurrency treasury companies, a phenomenon that has recently seen a rise in numbers, and these companies continuously invest in specific crypto assets.
*This is not investment advice.