🔥Insane! A Meme coin “dog-farm” factory—revenue beats the contract giants!
DeFiLlama’s latest data: past 30 days
shturl.c protocol revenue: $33.73 million
Hyperliquid protocol revenue: $32.73 million
For platforms that play in Meme coins, their earning power has already surpassed the on-chain contract ceiling.
Many people mix up two different figures:
Hyperliquid’s overall trading fees are actually higher, but a large portion of the proceeds is distributed to market makers and liquidity providers;
shturl.c almost directly counts most trading fees into protocol revenue—its TVL is only $250 million. Compared with Hyperliquid’s $6 billion in locked value, the profit efficiency is extremely outrageous.
The underlying logic is very straightforward:
Hyperliquid earns from the long-vs-short contract battle.
shturl.c doesn’t care which Meme coin goes to zero after a 100x.
As long as people keep issuing tokens and rushing to pump “Meme coins,” regardless of whether players win or lose, the platform steadily collects trading fees—definitely a “casino rake” model.
This data releases two signals:
✅ Retail speculation sentiment is clearly rebounding. The broader market is moving sideways, yet the Meme sector’s cash flow is exploding.
⚠️ But stay clear-headed: Pump’s revenue relies entirely on hype and trading heat. When the Meme wave fades, revenue will drop straight off a cliff—and regulatory risk will follow closely.
Revenue hits a new high, and
$PUMP also sees a run-up. But remember: platform profits don’t necessarily mean the token will rise—cash flow and token price are often two different things.
How long do you think this Meme hype can last?
👇 Drop your thoughts in the comments!
#pumpfun #Hyperliquid #meme #币圈现状 $PUMP $HYPE $MEME.ETF