Hyperliquid Overtaken by Pumpfun in Crypto Revenue Rankings

Pumpfun, a Solana-based memecoin launchpad, has surpassed Hyperliquid in 30-day revenue, ranking third among crypto protocols behind Tether and Circle.

This marks a significant shift as Hyperliquid, known for its volatile revenue from derivatives, faces challenges maintaining its market position.

The rise of Pumpfun highlights growing competition and has led to a slight decline in confidence for Hyperliquid's price target of $100 by the end of 2026.