Pump.fun Surpasses Hyperliquid in Daily Revenue

Summary:
Pump.fun has experienced substantial growth, surpassing Hyperliquid in daily revenue. With innovative updates and increasing user engagement, the Solana-based memecoin launchpad is establishing itself as a leader in the crypto space.

Key Takeaways

Pump.fun has outpaced Hyperliquid in daily revenue, achieving approximately $2.55 million compared to Hyperliquid’s $2.21 million.
Its total cumulative revenue now stands at $784.56 million, surpassing Hyperliquid's $650.85 million.
The platform's growth is fueled by Project Ascend, aimed at enhancing user rewards and sustainability for memecoins.
Dynamic Fees V1 is a key feature that adjusts creator fees based on market capitalization, discouraging pump-and-dump activities.
Total buybacks have reached $69.5 million, stabilizing token prices and enhancing value for holders.
Retail participation is rising, with unique holders increasing to 72,082.
Pump.fun’s native token PUMP has risen 12% in the last 24 hours and 32% over the past week.

Pump.fun flips Hyperliquid in 24-hour revenue

Main Content

Pump.fun is gaining significant traction in the crypto world. The Solana-based launchpad has recently surpassed Hyperliquid, a decentralized exchange and Layer 1 blockchain, in daily revenue, marking another key milestone in its impressive resurgence. Data from DefiLlama indicates that Pump.fun generated around $2.55 million in revenue over a 24-hour period on September 4, while Hyperliquid reported $2.21 million during the same timeframe. Moreover, the cumulative revenue of the memecoin launchpad has reached $784.56 million, outpacing Hyperliquid’s $650.85 million.

This significant achievement positions Pump.fun as the top-earning decentralized application (dApp) in the cryptocurrency space, trailing only behind well-known stablecoin issuers Tether and Circle. Earlier this year, in February, Hyperliquid had briefly overtaken Pump.fun as the third-highest revenue generator, but the latter is once again climbing the ranks, bolstered by aggressive buyback initiatives and a new project that may attract additional creators.

Much of Pump.fun's recent success is linked to a strategic update known as Project Ascend, introduced on September 2. This overhaul, centered around creators, aims to amplify the Pump.fun ecosystem by 100 times and enhance the long-term viability of the memecoins launched on the platform.

A key element of this initiative is Dynamic Fees V1, a tiered fee structure that connects creator fees to a token’s market capitalization. As a token’s market cap increases, the associated fees decrease. This model is designed to discourage the pump-and-dump behavior that the platform has faced criticism for and to reward developers who create community-supported, sustainable tokens.

The protocol presents this system as a method to make token launches ten times more rewarding, while simultaneously minimizing excess costs for scaling projects.

In addition to these structural enhancements, ongoing buybacks and increasing user activities are boosting positive momentum. Total buybacks have now reached approximately $69.5 million, reflecting the platform’s commitment to reducing the token supply and stabilizing price dynamics.

These buybacks are financed through revenue generated from token launches and platform fees, creating a feedback loop that supports the appreciation of value for PUMP holders. Furthermore, retail participation is on the rise; recent on-chain data reveals that the number of unique token holders has climbed to 72,082, signifying a boost in adoption.

Moreover, the platform has recently reclaimed its status as the leading memecoin launchpad on Solana. Nearly 28,000 tokens have been launched on Pump.fun within the last 24 hours, according to Dune Analytics, which is a significant increase from 18,446 tokens just days prior.

In addition to leading in revenue and ecosystem expansion, Pump.fun’s native token PUMP is outperforming Hyperliquid's token HYPE. As of now, PUMP has seen a 12% increase in the past 24 hours, totaling around 32% growth over the previous week, based on market data from crypto.news. In contrast, HYPE has increased by only 2.48% daily but has experienced a drop of 6.40% over the same 7-day timeframe.

Pump.fun’s latest revenue milestone underscores its escalating influence within the cryptocurrency ecosystem. With strategic enhancements such as Project Ascend, increasing adoption, and strong token performance, the platform is well-positioned for continued growth.