On March 19th, Hyperliquid announced a new fee system that increases trading fees and introduced staking tiers, a way to receive trading fee discounts.

We are less than 24 hours away from these changes taking effect, but despite HYPE going from $15 -> $20 since the announcement, staking wallets have mostly decreased!

It appears traders have spoken: they would rather pay the increased trading fees than set aside capital to receive trading fee discounts (and any other benefits that may come with staking tiers).

Hyperliquid