While small, the HBD supply keeps decreasing.

Here is the chart starting from Jan 2022.

Note that this is HBD without the HBD in the DHF.

At the beginning of the year the HBD supply was almost 14M, while at the moment is 8.6M.
Ten days ago the supply was 9.2, meaning a 0.6M HBD was removed from the supply.

This is a logical reaction to the drop in the prices of the market, that has been ongoing in all of the 2022. The supply keeps balancing itself to the market cap of Hive, and at the moment the debt is around 4%. If the supply of HBD stayed around the 14M HBD as the beginning of the year the debt would have been double now.

P.S. The all time chart