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BlockBeats News, December 17th, on-chain data shows that the Hyperliquid Assistance Fund holds 37.114 million HYPE, equivalent to about 1.02 billion US dollars, accounting for approximately 13.7% of the current circulating supply. The total supply of HYPE is 1 billion tokens, with the current HYPE market capitalization reaching 7.406 billion US dollars and the FDV reaching 27.35 billion US dollars. Previously reported, the Hyper Foundation posted on social media proposing a validator vote to formally acknowledge that the HYPE held by the Assistance Fund has been burned and permanently removed these tokens from circulation and total supply.

 according to on-chain data, the recent decline in Bitcoin prices is mainly driven by forced liquidations in the derivatives market, rather than sell-offs in the spot market. The root cause lies in the accumulation of highly leveraged long positions in the futures market. When the price falls below a key level, these positions hit the maintenance margin requirements and are forcibly liquidated. Liquidations are executed as market sell orders, increasing sudden selling pressure and further pushing prices down. The key point is that liquidations are not only a result of price declines but also an "amplifier." Even a slight initial drop can trigger a chain of forced sell-offs, with one liquidation causing the next. Therefore, this round of decline should be seen as a structural deleveraging event rather than a collapse in fundamental demand.