The Solana-based memecoin platform PumpFun is once again gaining traction, hitting $3 million in daily revenue for the first time since February. With this, it has flipped one of the most popular crypto perpetuals trading platform Hyperliquid.
The surge in PumpFun’s revenue comes amid renewed interest in memecoin trading. Besides, PumpFun’s recently launched token buyback program is also driving huge activity back to the platform.
As per DeFillama data, PumpFun generated $3.12 million in the past 24 hours, making it the third largest revenue generating crypto platform after Tether and Circle. It has surpassed Hyperliquid, which has constantly been making headlines since the past few months.Â
Third-largest protocol by revenue generation
PumpFun’s daily revenue peaked at $7.07 million on January 23, when memecoins were at the center of attention within the crypto industry. The platform has so far generated $807.8 million in cumulative revenue since its launch in January 2024.
Positioned third after stablecoin issuers Tether (USDT) and Circle (USDC), generating over $21.7 million and $7.62 million in revenue, respectively. PumpFun has been constantly dominating this list among hundreds of crypto platforms. Its most of the revenue comes from the fees paid by users for trading and launching tokens fees.
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