PANews reported on May 21 that, according to on-chain analyst Ai Yi, the largest external holder of HYPE, a16z, is still accumulating tokens. In the past 24 hours, it has withdrawn a total of 2.597 million HYPE tokens from various exchanges, worth $13.29 million, at an average withdrawal price of $51.17. Of these, 73,000 tokens were deposited back into exchanges, and their intended use is unknown.