The top 100 addresses on Hyperliquid contributed over 80% of the trading volume

Hyperliquid ecosystem data analysis service Hyperliquid Hub stated on X that the total number of user trading addresses for Hyperliquid has reached 1,725,066, with the top 100 addresses alone contributing 81.3% of the total trading volume, while the remaining 1,724,966 addresses contributed only 18.7%.

The data from Hyperliquid is not driven by public sentiment, but rather by a small group of extremely large and highly active traders.