CoinGecko: Hyperliquid Leads 2026 Crypto Revenue Rankings With $429M, Outearning Next Two Projects Combined
Hyperliquid has emerged because the highest-earning crypto undertaking of 2026, producing $429 million in income between January 1 and September 15, in keeping with data compiled by CoinGecko. The decentralized perpetuals trade outearned the following two highest tasks mixed and captured 12.62% of the $3.40 billion in whole income tracked throughout non-stablecoin-issuer tasks in the course of the interval.
Pump.enjoyable ranked second with $322 million in income, pushed nearly totally by token-creation and buying and selling charges on its memecoin launchpad on Solana. Together, the 2 platforms accounted for $751 million, or 22.10% of all income tracked thus far this 12 months. The full prime 15 listing spans a various set of sectors, together with two perpetual futures platforms, three buying and selling terminals, two stablecoin issuers, and one every of a launchpad, prediction market, real-world asset supplier, MEV builder, collectibles platform, pockets, funds service, lending protocol, and decentralized trade.
Notably, the third- and fifth-largest earners — Axiom Pro with $132 million and GMGN with $126 million — are usually not protocols however buying and selling terminals that facilitate simpler entry to on-chain buying and selling. Axiom integrates Hyperliquid for its perpetual futures performance, whereas GMGN is targeted on Solana memecoin buying and selling, that means each profit from the identical speculative exercise that drives income at their underlying platforms.
Other vital earners embrace Sky ($130 million), Polymarket ($115 million), World Liberty Financial ($95 million), and Paxos ($88 million). The prime 15 tasks collectively captured 56.02% of all tracked income.
Revenues Hold Steady Despite a 40% Bitcoin Decline
Despite a difficult market setting — Bitcoin has fallen by almost 40% this 12 months — combination crypto income has confirmed comparatively resilient. Monthly income throughout all tracked tasks, together with Tether and Circle, averaged $1.08 billion over the primary eight full months of 2026. This represents an 11.68% decline from 2025’s full-year common of $1.22 billion, and a ten.14% drop in contrast with the $1.20 billion common recorded in the identical interval of 2025. For context, month-to-month crypto income peaked at $1.57 billion in January 2025, whereas 2024’s full-year common stood at simply $0.84 billion.
The rankings exclude Tether, Circle, and Grayscale by design. The two stablecoin issuers would dwarf each different entry and obscure differentiation amongst remaining tasks, whereas Grayscale — which might in any other case rank third with $154 million — was excluded as the only real conventional finance asset supervisor within the dataset, since its income derives from an AUM-based sponsor payment somewhat than usage-based protocol charges. Aerodrome fills the fifteenth slot as an alternative.
A methodological caveat is price noting: whereas on-chain income was the first criterion for inclusion, some entries — notably stablecoin issuers comparable to Paxos and World Liberty Financial — generate income largely off-chain via curiosity revenue on reserves, somewhat than via on-chain transaction charges. Readers evaluating these tasks towards usage-based protocols ought to account for this distinction.
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