Pump fun Surpasses Hyperliquid in Revenue and Trading Volumes

The revenue of the Pump fun platform has sharply increased, surpassing Hyperliquid for the first time. Over the past 30 days, Pump fun earned $55.5 million, outpacing Hyperliquid, which earned $54.34 million. This makes Pump fun third in the overall revenue rankings, as renewed trading activity on all launchpads offered on Solana impacts the competitive environment. The significant increase in Pump fun's revenue is a game-changer among protocols. This is important as Pump fun earns funds through rapid token trading, while Hyperliquid generates income from perpetual activity. In the last seven days, Pump fun earned $17.54 million, showing active growth. In contrast, Hyperliquid's weekly revenue is $11.19 million, widening the gap between competitors. Sustained trading volumes of memecoins can strengthen Pump fun's position compared to Hyperliquid and significantly enhance the economic significance of the PUMP token.

Pump fun's trading volume has sharply increased from approximately $5 million per day in July to over $40 million in October. The increase in trading volumes became noticeable in mid-August and peaked in early September, when daily trading volumes often exceeded $30-$45 million and occasionally reached $60 million. Such an increase in trading volumes will contribute to expanding Pump fun's revenue base through user activity related to launching, trading, and rotating tokens. Maintaining trading volumes also creates an additional foundation for further revenue growth. However, a sharp decline in trading volumes will quickly weaken this support.

Recent whale actions have also clearly demonstrated their strength: Netherlol, who had been inactive for a long time, acquired 383.34 million PUMP tokens, valued at $2.4 million. Following this transaction, another wallet withdrew 189.22 million PUMP, equivalent to $1.18 million, from the MEXC exchange. These actions reduce the number of tokens available for trading amid already increased trading volumes. As long as these two whales hold the acquired tokens, it limits the supply for traders, which can amplify the impact on price changes. This circumstance also supports Pump fun's revenue, providing more robust growth, no longer solely dependent on platform activity. However, if new deposits occur, these changes may be partially reversed, making whale movements extremely important for confirming sustainable accumulation. If trading activity and whale accumulation continue, Pump fun may significantly increase its revenue and expand its position compared to Hyperliquid.