In the past hour, total liquidations across the network reached $16.38 million, with $3.11 million from long positions, with $13.27 million from short positions. BTC liquidation $7.72 million, ETH liquidation $3.16 million.

Odaily Planet Daily reports that a controversy has erupted within the Hyperliquid community regarding the positioning of HyperEVM. The community argues that HyperEVM is not designed as a general-purpose Ethereum execution environment, but rather as a dedicated execution layer that interacts in combination with Hypercore. The core design should rely on the corewriter and pre-compiled contracts, rather than being used as a general-purpose L1 layer. However, the current high learning curve for developers and the complexity of system address interactions lead to multiple transactions for cross-asset operations, resulting in inefficiency. In many cases, asset exchange is even less efficient than AMM mechanisms. Furthermore, HyperEVM has long suffered from being "neglected," possibly due to insufficient investment in ecosystem development as team resources are concentrated on core products such as HIP-3, HIP-4, and portfolio margin. The community suggests that to improve the activity of the HyperEVM ecosystem, developer tools need to be improved, the corewriter mechanism optimized, and more on-chain experimental applications similar to DeFi Summer incentivized. Otherwise, smart contract innovation may continue to slow down.

According to Arkham's monitoring, crypto KOL and Instagram influencer Andrew Tate's Hyperliquid trading account was forcibly liquidated eight times in the past 24 hours. Data shows that after depositing $100,000 into the account, Andrew Tate established approximately $3.8 million in long Bitcoin positions and approximately $1 million in short Bitcoin positions, forming a highly leveraged hedging strategy. However, due to the volatile price of Bitcoin, market movements repeatedly deviated from the direction of his positions, causing repeated liquidations.

Odaily Planet Daily reports that an Israeli official stated that Israel and Hezbollah in Lebanon have reached a ceasefire. The official said, "We will remain within the 'safe zone' in southern Lebanon. If they attack us, we will retaliate." (Xinhua)

According to a CNBC report, California is expected to see tax revenue growth as potential IPOs of tech companies like SpaceX, OpenAI, and Anthropic approach. SpaceX's listing could be a historic source of tax revenue for California, but due to employee stock ownership plans and tax avoidance practices, the tax revenue model is shifting from a concentrated surge to a more dispersed, long-term trend. The California Department of Finance and the Office of Legislative Analysis point out that compared to the approximately $1.3 billion in tax revenue generated by Facebook's 2012 IPO, the actual revenue from current mega-IPOs is likely to be more dispersed and difficult to predict.