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Market Depth question

Have recently aquired CBA and it seems to be trading around $40 a share on average.

But some days you see some buy orders which seem to be ridiculously above market value i.e. $54 per share.

I cannot understand this but wonder if this gives them preference.

So that they are the first trades executed at market prices.

Is this a strategy for getting in first or is there more to it that.