PUMP’s 144% Surge May Be The Beginning As Pump.Fun Flips Hyperliquid In Major Metric

After a horrible begin to its launch back in July this year, the PUMP token has lastly discovered its spark, managing to guide the current market restoration. The Pump.Fun native token rose by over 140% during the last month, that includes prominently on the high of the gainers’ record throughout this time. A slowdown has since rocked the altcoin after this, but it surely will not be the top of the story.

Pump.Fun Surpasses Hyperliquid In Daily Revenue

In an fascinating flip of occasions, Pump.Fun, the native platform behind the PUMP token, has overtaken Hyperliquid when it comes to day by day income. Hyperliquid, an on-chain perps buying and selling platform, has been the third-highest on-chain income generator, proper behind stablecoin issuers Tether and Circle.

This meant that Hyperliquid was the #1 decentralized finance (DeFi) platform and non-stablecoin issuer when it comes to income, averaging over $2.5 million day by day. Its high income technology was additionally instrumental in driving up the worth of its native HYPE token. Part of its income went into token buybacks, pushing up demand for the altcoin.

However, with the current growth, Pump.Fun has now dethroned Hyperliquid, pushing it into the fourth place. PUMP now reigns at third place, after recording $3.12 million in day by day income, in comparison with the $3 million generated by the Hyperliquid platform for a similar time interval.

While Hyperliquid continues to guide over longer timeframes, comparable to weekly and month-to-month, the current rise within the Pump.Fun income may have very bullish implications for its native token.

Why The PUMP Token Price Can Benefit From This

The rise within the Pump.Fun metric to flip Hyperliquid is bullish for the PUMP value in the truth that the platform additionally makes use of nearly 100% of its revenue to actually buyback the token. This was highlighted by crypto analyst Kaduna in an X submit, explaining that this might pump the worth.

According to Kaduna, the PUMP token continues to be massively undervalued at a $2.8 billion market cap in comparison with HYPE’s $14.4 billion market cap. He additionally factors out that the streaming service on the Pump.Fun web site is simply beginning, one thing which can also be bullish for the platform.

If the income continues and the buybacks are notable, then it’s potential that the PUMP price is headed to new all-time highs. At the time of writing, the worth is barely sitting 30% under its $0.01214 all-time high that was recorded again in July.