Fomo's $2.64M weekly revenue tops Hyperliquid as DeFi shifts to social

A Solana-based social trading app briefly out-earned one of crypto's most dominant perpetual trading platforms, a milestone that says more about user behavior than balance sheets.

Fomo, the Solana-based social trading app, posted higher 24-hour revenue than Hyperliquid on Aug. 8, peaking near $399,000, according to DefiLlama data.

"We see significant challenges to the market share of decentralized platforms such as Hyperliquid," analysts led by Nikolaos Panigirtzoglou at JPMorgan said in a Thursday report, citing competition from regulated centralized exchanges and prediction markets.

Fomo's weekly revenue hit an all-time high of $2.64 million for the week ending Aug. 8, with builder fees from Hyperliquid futures contributing roughly $39,000. The platform closed a $75 million Series B in June at a $550 million valuation and had attracted more than 625,000 users with cumulative trading volumes above $4 billion by that point.

The overtaking shows how DeFi user attention is flowing toward platforms that combine trading with social features, even as Hyperliquid remains the revenue leader by a wide margin — the perps giant crossed $1 billion in cumulative revenue by June 30 and regularly posts daily revenues above $3 million.

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, letting 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 $39,000 out of a recent $2.64 million 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 $2.64 million for the week ending Aug. 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 $75 million Series B funding round in June 2026, landing a $550 million 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 $4 billion. For context, Hyperliquid crossed $1 billion in cumulative revenue by June 30, 2026. Hyperliquid's daily revenues regularly exceed $3 million.

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.

The revenue crossover is a snapshot, not a trend reversal. Hyperliquid generated $169 million in quarterly revenue in Q2, returning $141 million to token holders through buybacks, and is planning fee structure changes on its HIP-3 markets that could double annualized revenue from $70 million to $140 million, according to estimates by Ryan Watkins. But Fomo's rise points to where DeFi liquidity and developer attention are heading — toward platforms that make trading social, not just efficient.

This article is for informational purposes only and does not constitute investment advice.