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During yesterday's crash, Hyperliquid's "priority fees" hit an all-time high.

BlockBeats news, November 6: The priority fees captured by Hyperliquid reached $521,000, hitting an all-time high, and this revenue also accounted for a record 12.7% of the platform's total daily revenue.


So-called Priority Fees refer to the additional fees users proactively pay to validators or protocols to have their transactions prioritized during intense market competition or network congestion. Yesterday coincided with a historic crash in US stocks; under extreme market conditions, on-chain liquidation bots, arbitrageurs, and ordinary traders were all frantically competing for transaction processing priority to execute their intended operations faster.

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Hyperliquid's open interest and trading volume have continued to hit new highs. However, due to the HIP-3 fee-sharing mechanism, the rise of third-party markets, and a lackluster ecosystem, the platform's retained earnings have been declining steadily. The HYPE buyback pressure, valuation support, and regulatory scrutiny are all under pressure simultaneously.
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