Decentralized derivatives platform Hyperliquid led CoinGecko's 2026 crypto revenue ranking, generating $429.04 million in tracked revenue through September 15 — ahead of both Pump.fun and Axiom Pro.
Why it matters: Hyperliquid's lead over more consumer-facing platforms like Pump.fun underscores how much revenue has shifted toward on-chain derivatives trading this cycle, as DeFi-native venues increasingly rival centralized exchanges on volume and fee generation.
Source: crypto.news
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