Hyperliquid Surpasses Pump.fun in Fees as HYPE Token Hits New All-Time High

Decentralized derivatives platform Hyperliquid has surpassed Pump.fun in fees and user activity. Over the past day, Hyperliquid generated $6.5 million in fees, more than four times the amount earned by Pump.fun at $1.5 million.

This marks a significant increase for Hyperliquid, which also recorded $5.6 million in revenue compared to Pump.fun's $1.3 million. The platform has seen a surge in user activity with around 102,800 daily active users versus Pump.fun's 95,200.

The rise in fees and user activity can be attributed to the recent market swings that pushed more traders to close or change their leveraged positions on Hyperliquid's futures market. A nearly $25 million Bitcoin position was also liquidated on the platform during this time.