Hyperliquid Tops Revenue Rankings Amid Growing Perpetual Markets

Hyperliquid tops revenue, earning $84.25M, more than double its closest rival Pump.

Perpetual market volumes hit $22.561B daily, signaling growing trader participation.

Trading activity surged since 2024, with peaks near $80B, boosting holder returns.

Hyperliquid surged ahead as the top revenue engine, according to Coin Bureau. Over the last 30 days, holders earned the most from Hyperliquid ($84.25M), followed by Pump ($32.72M), Tron ($29.53M), and Jupiter ($12.02M)

Hyperliquid generated more than double the revenue of Pump, emphasizing its dominance. All four platforms operate on a single blockchain, highlighting concentrated activity within their respective networks.

Besides the revenue rankings, DefiLlama shows the 24-hour perpetual volume at $22.561 billion. The total open interest stood at $13.873 billion, while the 30-day volume reached $1.28 trillion

Additionally, weekly change posted a positive growth of +6.75%, signaling rising market engagement. This trend shows robust trading activity across platforms and underscores how liquidity and investor participation have expanded sharply.

Trading Volumes and Market Expansion

Starting mid-2021 to 2023, data shows consistent volumes with relatively slight variations. But in 2024, trade activity started to steadily rise, indicating a distinct change in the dynamics of the market. By 2025, the charts displayed sharp spikes in daily volumes, with several peaks approaching $80 billion.

Source: DefiLIama

Consequently, perpetual futures markets have seen sustained growth and increased intensity. Moreover, these volume trends reflect larger investor interest and higher trading frequency, driving greater revenue potential for platform holders.

The data also indicate that Hyperliquid’s dominance stems from both high trading volume and efficient revenue distribution to holders. Meanwhile, other platforms such as Pump, Tron, and Jupiter provide meaningful returns but trail behind significantly

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