Hyperliquid Surges in 24-Hour Revenue, Outpaces Key Competitors

Hyperliquid reports a daily revenue of $2.75 million, surpassing Pump.fun and trailing only behind Tether and Circle in the protocol fee rankings, as per Defillama data.

This revenue surge highlights Hyperliquid’s growing influence in the DeFi sector, with increased competition against centralized derivatives, attracting attention from industry leaders like Raoul Pal.

Hyperliquid’s $2.75M Revenue Boosts DeFi Market

Hyperliquid achieved $2.75 million revenue in 24 hours, overtaking pump.fun, according to Defillama data. This success places Hyperliquid third in protocol fee rankings, below Tether, at $21.83 million, and Circle, at $7.75 million.

Hyperliquid’s growth underscores the increasing relevance of DeFi perpetuals. Circle’s CEO, Jeremy Allaire, highlighted the significance of USDC integration in enhancing liquidity. Tether’s on-chain wallet data confirms considerable interest with a 30% on-chain surge related to Hyperliquid holdings.

Industry leaders have recognized the potential impact. Raoul Pal, CEO of Real Vision, noted the shift towards decentralized derivatives from centralized options, stating:
“The Hyperliquid surge is clear evidence that DeFi perpetuals are outcompeting centralized derivatives—this is the paradigm shift we’ve been waiting for.”

Historical Trends Highlight Hyperliquid’s DeFi Influence

Did you know? Hyperliquid previously exceeded Ethereum and Solana in daily fees in July 2025, establishing a growth trend akin to dYdX and Uniswap’s rises but with a perpetual derivatives focus.

Hyperliquid’s market performance indicates a positive trajectory. Currently priced at $56.11 according to CoinMarketCap, it has seen a 33.45% increase over 30 days. The market cap stands at $18.74 billion, with a trade volume drop of 27.54% within 24 hours. Despite this, Hyperliquid maintains a market dominance of 0.46%, reflecting its competitive edge in DeFi.

Coincu research insights suggest Hyperliquid’s momentum could reshape DeFi landscapes, influencing financial frameworks and tokenomics structures. The potential expansion in global DeFi participation could prompt regulatory adaptations, accommodating the rising demand for decentralized derivatives.