Hyperliquid Surpass Pump.fun in Fees as HYPE Token Hits ATH

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

The rise comes as more traders turn to leveraged markets, helping its native HYPE token to reach a new all-time high of $82.43.

Hyperliquid Takes the Lead In Fee, Revenue, and User Activity

Data from Token Terminal shows Hyperliquid leading Pump.fun across all three (fee, revenue, and user activity) key metrics over the past 24 hours. Hyperliquid generated $6.5 million in fees, more than four times Pump.fun’s $1.5 million. 

Hyperliquid also led in revenue, recording $5.6 million compared with Pump.fun’s $1.3 million

User activity also points to stronger demand. Hyperliquid recorded around 102,800 daily active users, slightly higher than Pump.fun’s 95,200. This shows that its fee lead is not coming only from a small group of traders, but from broader activity across the platform.

If the trend continues, rising fees, revenue and user activity could show that more traders are actively using the Hyperliquid network, giving the token stronger support.

Reasons Behind Hype Surpassing Pump.fun