Only 25 Users Have Paid Hyperliquid Read Priority Fees, Totaling $5.3M

The striking figure here is not the $5.3 million total but its concentration: 25 payers, with two wallets covering over 80% and the top five nearly all of it. That suggests read priority on Hyperliquid is functioning less as a broad market for order-flow advantage and more as a niche tool for a handful of very large, latency-sensitive participants. Whether that base widens as the venue matures, or stays a closed club of a few deep-pocketed users, is the open question worth watching.