Pump.fun beats Hyperliquid with $8.52M in daily fees

Pump.fun retains its dominance over Hyperliquid for daily fee generation. The platform has been posting peak fees since switching to its creator-compensation model. 

Pump.fun surpassed Hyperliquid in terms of daily fees for the second day in a row. The expansion of fees and revenues shows Pump.fun’s comeback from the low-level performance in June and July. 

Pump.fun fees spiked, leading the platform ahead of Hyperliquid and even Circle, as the meme launchpad invited a wave of new creators. | Source: DeFiLlama.

Pump.fun rallied to the second spot for daily fee generation, surpassing even the Circle stablecoin. The platform achieved $8.52M in daily fees, on a mix of token creation and DEX activity. Peak trading also coincided with near-record value locked, as PumpSwap carried over $330M in liquidity in the past days. 

At this rate, Pump.fun can generate up to $1.35B in annualized fees, with the potential for a significant creator payout. In the past day, the platform announced it distributed $4M to creators, rewarding new early-stage streamers. 

As Cryptopolitan reported earlier, creators locked in around $19.3M for the past week, after Pump.fun revamped its streaming service and set out to draw in high-profile creators. 

PUMP buybacks accelerate again

Active days translate into significant buybacks, as Pump.fun aims to reward its community and boost the price of PUMP. 

PUMP retained its gains above $0.008, following its all-time high on September 15. The platform still spends 99.1% of its SOL rewards on repurchasing PUMP, based on its ongoing program. The team has already bought back 6.68% of the PUMP supply.

The recent fee generation compares Pump.fun to Hyperliquid, which is also one of the central features in the crypto space. At this point, it remains uncertain which token better represents the value of the ecosystem. 

After the relaunch of streaming, Pump.fun has yet to prove that its model is sustainable. Currently, the spike in fees comes from the effect of streamers, who boost trading in the short term. However, there are user reports for rug pulls returning to live streaming, as well as popular channels boosting a token, which crashes immediately after the end of the stream. 

Pump.fun aims to bring back the trenches

Pump.fun achieved 35,790 token launches in the past days, recalling the period when traders in the trenches were the most active. For the past day, only 321 tokens graduated, in line with the usual rate of just under 1%. 

The platform once again dominates token launches, as LetsBonk activity fell to a lower baseline. The promise of fee sharing brought back the top token creators to the platform, while all other meme launchers saw fewer than 5 graduating tokens in the past day. After a brief period of competition, Pump.fun solidified as the winner of the meme wars. 

Pump.fun invited 21,530 token creators in the past day, with almost none left for all other platforms. The recent streaming drive boosted the number of creators to a three-month peak. Even during record times, competitor LetsBonk did not manage to invite more than 10K creators.

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