Analysis: The actual market liquidation amount may exceed $40 billion, with HyperLiquid liquidation amount alone reaching nearly $7 billion

On-chain data analyst MLM Yu X posted a post stating that the liquidation figures circulating in the market are incorrect and that the actual number is likely much higher, ranging from $30 billion to $40 billion or even higher. On Hyperliquid alone, nearly $7 billion was liquidated.