Pump.fun, a Solana-based memecoin launchpad, has surged past perpetuals exchange Hyperliquid in daily protocol revenue, according to new data from DefiLlama.
Key Takeaways:
Pump.fun surpassed Hyperliquid in daily protocol revenue, hitting over $1 billion in trading volume and ranking third among DeFi platforms.
The memecoin market cap surged to a 30-day high of $83 billion, reflecting strong retail interest and token launches.
Pump.fun is expanding into livestreaming, paying $4 million to creators as it aims to rival platforms like Rumble and Kick.
The milestone comes as memecoin trading continues to rally in September, fueled by a sharp spike in market activity and token launches.
On Monday, Pump.fun recorded over $1.02 billion in daily trading volume, up from $942 million the day before, as shown by decentralized exchange aggregator Jupiter.
Memecoin Market Cap Hits $83B High Amid Ongoing Sector Rally
The surge coincided with a broader memecoin sector rally, where the total market cap hit a 30-day high of $83 billion on Sunday, holding above $80 billion through Monday.
While the sector has slightly cooled to $76 billion at press time, the interest in meme tokens remains elevated.
Pump.fun’s total value locked (TVL) also hit a record high of $334 million on Sunday, underscoring growing capital inflow into the platform’s smart contracts.
The protocol ranked third in daily DeFi revenue, behind only Tether and Circle, while beating out Hyperliquid for two consecutive days. This marks a notable shift in protocol rankings as retail interest floods into memecoins again.
Beyond trading volume, Pump.fun is pushing aggressively into livestreaming. On Monday, the platform announced it had distributed $4 million in rewards to content creators, the majority of whom were first-time streamers.
Pump.fun co-founder Alon claimed the platform’s livestreaming tool surpassed Rumble in average concurrent streams, edging toward 1% of Twitch’s share and 10% of Kick’s. However, these claims remain unverified by third-party analytics platforms.
The memecoin sector’s latest momentum also lifted major tokens like Dogecoin, which gained 11% over the past week despite the delay of a proposed US-listed Dogecoin ETF.
Other lesser-known meme tokens, including Memecore (M), Moo Deng (MOODENG), and DORA, posted double-digit gains as well.
Pump.fun’s breakout underscores how fast-growing meme culture continues to disrupt both DeFi economics and Web3 entertainment platforms, as it evolves beyond speculation into creator-driven ecosystems.
Pump.fun Acquires Kolscan
In July, Pump.fun announced its acquisition of the wallet tracking tool Kolscan, aiming to revolutionize on-chain trading.
The integration will merge Kolscan’s analytics with Pump.fun’s social trading features, enhancing transparency, wallet tracking, and copy-trading capabilities.
Co-founder Alon Cohen emphasized that trading is a “social sport,” highlighting the importance of community and shared insights in driving success within the ecosystem.
As part of the deal, all Kolscan services will be made free to users.
Pump.fun has already attracted tens of thousands of users and intends to build a scalable crypto social media platform, leveraging Kolscan’s tools to grow its community and influence.
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