According to Wu, based on MLM monitoring, Hyperliquid Strategies holds 9.31% of circulating HYPE, valued at approximately $2 billion, accounting for 2.78% of HYPE's total supply. If combined with Assistance Fund, the two collectively hold 7.3% of HYPE's total supply, valued at approximately $5.3 billion, making up 25.5% of all circulating HYPE.