Pump.fun, a meme coin launchpad platform on the Solana blockchain, achieved a notable milestone today by reaching $2.55 million in the 24-hour revenue. With this, Pump.fun has surpassed popular perpetual decentralized exchange (DEX) Hyperliquid, which has been constantly leading most of the crypto platforms since the past few weeks.
Data from DeFiLlama shows that PumpFun was ranked third with $2.55 million revenue. Meanwhile, stablecoin issuers Tether and Circle are still at the first and second place respectively with the daily revenue of $21.25 million and $7.55 million. Hyperliquid is now positioned third with $2.44 million in 24 hour revenue, followed by Axiom Pro with $1.9 million.Â
Pump.fun’s cumulative revenue currently sits at $784.56 million with the platform charging a flat 0.05% swap fee on all token transactions. Since its launch in January 2024, PumpFun has been continuously dominating the meme coin domain. The platform has helped users create over 12.69 million meme coins till date, as per a Dune dashboard data.Â
Hyperliquid Shifting to Second Place
Hyperliquid, a decentralized derivative platform built on its own Layer-1 blockchain, has gained significant interest from investors in the past few months. Its competitive features in the crypto trading domain, especially decentralized perpetuals, has led it to an accumulation of $651 million in cumulative revenue.
Despite heightened activity on Hyperliquid, Pump.fun has surpassed it with a thin margin in revenue, driven by a sudden rise in meme coin trading activity. This occurrence highlights a notable shift in the crypto industry as users turn back to the shrinking meme coin sector.
The surge in activity on PumpFun is also attributed to the platform’s recent buyback initiatives, which saw its token surging over 5% intraday.Â
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