Hyperliquid Surpasses Pump.fun in Fees as HYPE Token Hits New ATH

Decentralized derivatives platform Hyperliquid has surpassed Solana-based meme coin launchpad Pump.fun in 24-hour fees. Over the past day, Hyperliquid generated $6.5 million in fees, more than four times Pump.fun's $1.5 million.

The increase comes as traders are turning to leveraged markets, driving up activity on Hyperliquid's futures market. A recent market sell-off pushed a Bitcoin position worth nearly $25 million into liquidation on the platform.

Hyperliquid also led in revenue, recording $5.6 million compared with Pump.fun's $1.3 million over the past 24 hours. The platform's user activity is also higher, with around 102,800 daily active users, slightly more than Pump.fun's 95,200.