Hyperliquid Hits $3M Daily Revenue as Onchain Protocols See Record Weekly Gains

Hyperliquid generated $3.07 million in protocol revenue within a 24-hour window, contributing to a broader trend of record-breaking performance among top onchain platforms. Data from DefiLlama shows Hyperliquid reached approximately $13.47 million in revenue over a seven-day period.

This performance places Hyperliquid among the highest-earning protocols in decentralized finance when excluding stablecoin issuers. The protocol relies heavily on perpetual futures trading, with nearly 99% of eligible fees directed toward HYPE buybacks and burns through its Assistance Fund.

Three other platforms—Pump, StonkFun, and Pons—also achieved their best weekly revenue numbers to date. StonkFun, a token launchpad, recorded a peak single-day revenue of $1.84 million during this period.

Pons maintained consistent activity, generating approximately $17.8 million in revenue over the trailing 30-day window. Meanwhile, the Solana-based memecoin launchpad Pump continued to see high levels of activity within its ecosystem.

The focus on protocol revenue rather than total value locked highlights a shift in how market participants evaluate these platforms. Unlike stablecoin issuers that rely on interest income from reserves, these protocols generate revenue directly from user fees.

Hyperliquid’s recent weekly revenue of $13.47 million suggests an annualized run rate exceeding $700 million. While Hyperliquid focuses on buybacks and burns, the launchpad protocols are distributing earnings between treasury accumulation and token buyback initiatives.