Suspected a16z Crypto address buys another $2.16M in HYPE

According to on-chain analyst ai_9684xtpa, an address suspected of belonging to a16z Crypto, the cryptocurrency investment arm of Silicon Valley venture capital firm Andreessen Horowitz (a16z), withdrew 44,500 HYPE worth $2.16 million from Gate.io a short while ago. The analyst previously noted that a16z Crypto may be the largest external holder of HYPE. Withdrawals from exchanges are typically interpreted as an intention to hold.