Fomo overtakes Hyperliquid in 24-hour revenue, signaling a shift in DeFi’s competitive landscape

Fomo, the social trading app built on Solana, posted higher 24-hour revenue than Hyperliquid according to DefiLlama data. For a platform that only launched perpetual futures trading in June 2026, overtaking a protocol that crossed $1B in cumulative revenue by midyear is the kind of flex that turns heads.

To be clear, this isn’t a case of Fomo suddenly becoming larger than Hyperliquid. Hyperliquid has recorded single-day revenues as high as $6.84M during peak periods and regularly posts daily figures in the millions. But Fomo’s ability to even momentarily match or exceed that output, with recent 24-hour revenue fluctuating between $150K and $400K and peaking near $399K, tells an interesting story about where DeFi user attention is flowing.

How a social trading app competes with a perps giant

Fomo is a self-custodial, gasless token swap app wrapped in a social layer, complete with feeds, leaderboards, and copy trading. The platform earns most of its revenue from transaction fees on Solana token swaps. In June 2026, Fomo added perpetual futures trading through partnerships with Hyperliquid and Trade.xyz. Those integrations let non-US users trade crypto, equities, pre-IPO stocks, indices, and commodities without leaving the app.

The perps integration contributes a relatively modest slice of total revenue. Builder fees from Hyperliquid futures accounted for roughly $39K out of a recent $2.64M weekly haul. The real money machine remains Solana swaps, driven by raw transaction demand from a growing user base.

Fomo’s weekly revenue hit an all-time high of $2.64M for the week ending August 8, 2026. That figure placed it in the same conversation as established Solana heavyweights like Jupiter and Phantom, both of which Fomo has occasionally surpassed in weekly revenue during the summer.

The numbers behind the noise

Fomo closed a $75M Series B funding round in June 2026, landing a $550M valuation. There’s no native governance token and no inflationary tokenomics propping up the numbers. Revenue comes directly from users making trades.

By June 2026, Fomo had attracted over 625,000 users and reported cumulative trading volumes north of $4B. For context, Hyperliquid crossed $1B in cumulative revenue by June 30, 2026. Hyperliquid’s daily revenues regularly exceed $3M.

For Hyperliquid, the dynamic creates an unusual relationship. Fomo is simultaneously a competitor in the revenue rankings and a customer that routes order flow through Hyperliquid’s infrastructure.