GMGN overtakes Axiom Exchange in 24-hour revenue as memecoin trading wars heat up

GMGN.ai, the multi-chain meme token trading terminal, recently flipped Axiom Exchange in 24-hour revenue according to DeFiLlama data.

The numbers behind the flip

GMGN.ai’s 24-hour revenue climbed to roughly $336,000, momentarily surpassing Axiom on a daily basis. Axiom’s own 24-hour revenue was reported at approximately $559,000, though the timing of snapshots matters enormously in a market where trading volumes can swing wildly within hours.

The revenue these platforms generate comes primarily from trading fees, net of referral payouts and cashbacks.

On an annualized basis, GMGN is running at about $115 million in revenue. Axiom sits considerably higher at roughly $237 million annualized. The gap in cumulative totals is even wider: Axiom has generated more than $453 million in total revenue since launching in early 2025, hitting the $100 million mark in approximately four months.

At its peak in April 2025, Axiom was pulling in up to $2 million in daily revenue.

Different strategies, same degenerate market

GMGN operates across multiple chains, including Solana, BSC, Base, and Ethereum, functioning as both a web-based trading terminal and a Telegram bot. Its feature set leans into smart money tracking and AI-driven trading signals.

Axiom, backed by Y Combinator, has historically concentrated its firepower on Solana. At certain points, Axiom captured an estimated 72% of the Solana trading bot market share.

GMGN’s recent strength has reportedly been driven in part by activity on the BSC chain.

What a daily flip actually signals

No permanent revenue overtaking between GMGN and Axiom has been recorded. The daily metric is useful for tracking momentum but misleading as a measure of sustained competitive advantage. Axiom’s cumulative revenue lead of roughly $453 million versus GMGN’s annualized run rate of $115 million suggests the gap remains substantial.

A combined annualized revenue run rate north of $350 million across just two platforms puts memecoin trading infrastructure in the same revenue conversation as some of the largest DeFi protocols.

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