Hyperliquid Tops Year-to-Date Revenue Ranking at $429M, CoinGecko Data Shows

The composition of this leaderboard is the story: perpetuals, memecoin launchpads, prediction markets and stablecoin infrastructure now sit alongside each other at the top of crypto's revenue table, suggesting fee capture is spreading beyond the exchanges and layer-1s that dominated past cycles. Hyperliquid's lead over the runner-up is substantial, though the wider spread across ten venues points to a market where activity is fragmenting rather than concentrating. Whether these fee levels persist through a quieter trading environment, and how long perp DEXs hold their edge over launchpad-driven flows, is the open question.