Pump.fun surpasses Hyperliquid in 7-day revenue as memecoin launchpad hits $10M weekly fees for first time

Pump.fun has crossed a threshold that would have seemed improbable even a year ago. The Solana-based memecoin launchpad generated more than $10 million in protocol fees during the week of August 3-9, 2026, the first time it has cleared that mark in a single week, according to DefiLlama data.

That puts its 7-day revenue at roughly $12 million as of mid-August, ranking it third among all tracked protocols, behind only stablecoin giants Tether and Circle. Hyperliquid, the perpetuals-focused decentralized exchange and Layer 1 chain that has dominated DeFi revenue conversations, finished the same period below Pump.fun’s mark.

The numbers behind the rivalry

The 30-day picture tells a cleaner story. Pump.fun posted $35.67 million in 30-day revenue for August 2026, compared to Hyperliquid’s $32.46 million over the same window. That gap followed a 13-day streak in late July through August where Pump.fun led the 30-day revenue ranking, with its peak hitting $42.3 million against Hyperliquid’s $28.5 million during that run.

At the daily level, Pump.fun co-founder Sapijiju pointed to July 23 as a clear benchmark: the platform earned $1.21 million that day versus Hyperliquid’s $1.03 million.

Since its 2024 launch, Pump.fun has now generated more than $1.2 billion in cumulative revenue.

Worth flagging: revenue definitions are not uniform across platforms. Pump.fun’s figures reflect fees generated from bonding-curve trades and its PumpSwap product. Hyperliquid’s revenue reflects trading fees from its perpetuals exchange.

How Pump.fun is built to be deflationary

Half of every dollar Pump.fun earns goes directly toward PUMP token buybacks and burns, executed automatically via smart contracts. Weekly burns have exceeded $5 million in value during peak periods, and hundreds of millions of tokens have already been removed from circulation.

Where Hyperliquid still has the edge

Hyperliquid holds approximately $6 billion in Total Value Locked, compared to Pump.fun’s roughly $250 million. Hyperliquid appeals primarily to institutional and semi-professional traders who want high-volume leveraged exposure with deep liquidity. Pump.fun’s strength is the opposite: a massive retail base generating high-frequency, low-to-mid ticket transactions that aggregate into substantial fee revenue during speculative trading surges.

For PUMP token holders, the buyback and burn program creates a direct link between platform revenue and token value, making Pump.fun’s fee performance a more relevant data point than it might be for a protocol without that mechanism.

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