Pump.fun, the Solana-based memecoin launchpad, surpassed Hyperliquid in monthly protocol revenue on August 9, 2026, the first time it has held that title since April 2025.
According to DeFiLlama data, Pump.fun generated $33.73 million in revenue over the preceding 30 days, nudging past Hyperliquid’s $32.73 million.
The numbers behind the milestone
Pump.fun collected $84.35 million in total fees during the same 30-day window, compared to Hyperliquid’s $47.14 million.
Hyperliquid’s net revenue retention margin sits at 73%, versus Pump.fun’s 41%.
