Key Takeaways:
Pump.fun generated $10.03 million in protocol fees during the week of Aug. 3-9, the first time its weekly total crossed $10 million, as ecosystem trading volume reached $2.97 billion.
The Solana-based token launch platform said fees rose 12% from the previous week in its Aug. 10 newsletter, which described the period as its "first week above $10M." Independent DefiLlama data supports the broader recovery, recording $10.49 million of Pump protocol revenue over its latest seven-day rolling window.
DefiLlama now shows Pump revenue at $35.67 million over 30 days, ahead of Hyperliquid's $32.46 million. The comparison requires care because the platforms are measured differently: Pump's figure captures bonding curve fees, PumpSwap protocol fees and Terminal fees after payouts, while Hyperliquid revenue primarily reflects fees routed to its Assistance Fund for HYPE purchases. Pump's broader gross fees were much higher at $88.87 million over 30 days because that measure also captures fees distributed elsewhere in the ecosystem.
The milestone arrives as attention shifts to a scheduled unlock of 6.875 billion PUMP on Aug. 12, valued near $19.2 million and equal to about 1.75 percent of circulating supply. The event will test whether the recent fee rebound can hold.
Pump.fun said $5.02 million was used to purchase and burn approximately 2.15 billion PUMP during the seven-day period, part of its commitment to route 50 percent of revenue toward buybacks through a locked smart contract. The platform said cumulative repurchases have now offset 15.7 percent of the token's original total supply. DefiLlama, which measures PUMP holder revenue from recorded burns, showed $5.16 million flowing to token holders over its latest seven-day window; the difference from Pump.fun's figure reflects differing reporting windows.
Trading activity strengthened alongside the fee print. Pump.fun reported $2.97 billion in ecosystem volume during Aug. 3-9, its strongest weekly total since late January. Bonding curve volume accounted for $751.6 million, while PumpSwap processed $2.22 billion.
PUMP was trading near $0.0028 on Aug. 11, according to DefiLlama, up 33.8 percent over seven days and 104.1 percent over 30 days, taking its circulating market capitalization to about $1.1 billion. The token remained roughly 68 percent below its September 2025 record high. The timing does not establish that the fee report caused the rally — buybacks, rising volume and broader market conditions were developing simultaneously.
Pump.fun is also trying to deepen activity beyond token launches. It publicly launched social trading on Aug. 7, introducing token callouts that alert followers, zero-fee trading and cross-chain trades funded with USDC. The newsletter said callouts increased 44 percent during the week and replies rose 87 percent.
The revenue rebound comes while Pump.fun faces a separate U.S. legal challenge. The federal docket for Aguilar v. Baton Corporation Ltd. in the Southern District of New York lists April 13, 2026 as its last known filing date. Plaintiffs have alleged securities violations involving tokens sold through the platform; those remain allegations, not findings of liability.
Beyond Wednesday's unlock, the key operating measure will be whether the recent rebound in trading continues and keeps revenue above the levels that pushed Pump ahead of Hyperliquid over the latest 30-day period.
This article is for informational purposes only and does not constitute investment advice.
