📊 DATA: Hyperliquid routed ~$576M of $641M in forced selling away from its public order book during the worst minute of the Oct. 2025 crash. The implication: its backstop likely damped liquidation feedback inside the venue. The study is a preprint and does not measure the wider market. https://cryptoslate.com/shifting-576-million-of-forced-sales-off-public-order-books-saved-hyperliquid-from-a-systemic-crash-during-peak-panic/(CryptoSlate)