Pump.fun Challenging Hyperliquid's 15-Month Revenue Reign
Pump.fun is on track to end Hyperliquid's 15-month winning streak in monthly revenue. The latter has led since April 2025, but Pump.fun has pulled ahead with $55.9M in revenue, compared to Hyperliquid's $49.6M at the time of writing.
Pump.fun's token has also outperformed Hyperliquid's by a wide margin, particularly over August when it surged 105%, while Hyperliquid gained 49%. The surge may have been anticipated, as the market priced in Pump.fun's growth before numbers confirmed it.
However, Hyperliquid might be playing a longer game. Its upcoming upgrade, HIP-4, will introduce permissionless prediction markets, allowing outside builders to launch markets on various topics as long as validators approve the structure and 500,000 HYPE tokens are locked up.