Jupiter Joins Top DeFi Earners, Outpacing Pump.fun, PancakeSwap

Jupiter Exchange has surpassed major decentralized finance (DeFi) players, securing the second-highest daily fee ranking after stablecoin issuer Tether.

Additionally, the decentralized exchange (DEX) generated $2.73 million in revenue over a 24-hour period, going above fellow Solana stalwart Pump.fun.

Jupiter Usurps Pump.fun

According to data from DefiLlama, the exchange has earned $10.88 million in fees since yesterday, about $7.3 million less than the amount Tether raked in.

However, Jupiter performed markedly better than Uniswap, PancakeSwap, sister platform Meteora, and Hyperliquid, a rising star in the perpetual futures trading space. Apart from Uniswap, none of these competing protocols earned more than $5 million in fees in the last 24 hours.

In terms of revenue in the same period, Tether is heads and shoulders above everyone, with its $18.19 million being three times more than its closest competitor, Circle. Hyperliquid was third, bringing in $3.53 million, while Jupiter went above Pump.fun with a 24-hour revenue of $2.42 million.

Over seven days, the DEX’s fee earnings stand at $23.31 million, only bettered by Tether’s $127.26 million, Circle’s $41.54 million, and PancakeSwap’s $36.15 million. Other Solana-based platforms in the top ten include Meteora, Jito, and Pump.fun, which respectively received $19.52 million, $15.69 million, and $14.55 million in the last week.

Jupiter’s improving fortunes have come in the wake of turbulence in Solana’s DeFi space. Last week, Meteora, co-founded by Jupiter’s pseudonymous lead, Meow, faced leadership upheavals after its other co-founder, Ben Chow, resigned over allegations of financial misconduct.

Additionally, the controversy surrounding the LIBRA meme coin, which soared and then crashed after a high-profile endorsement from Argentine President Javier Milei, has also shaken confidence in some DeFi platforms.

JUP Market Performance

Data from CoinGecko shows the decentralized finance category is up by a slight 0.6% since yesterday, with its collective market cap at $102 billion.

Jupiter’s JUP token is among the better-performing cryptocurrencies in the sector, gaining 9.5% on its price over the previous 24 hours. Among the segment’s top ten assets by market cap, it was only bettered by Maker (MKR), up 21.4%, and Hyperliquid’s HYPE, which registered an 11.9% uptick.

Across seven days, JUP also suffered the least loss among DeFi heavyweights, dropping just 1.0% of its value. The biggest large-cap losers were Aave (AAVE), down 17.8%, Chainlink (LINK), which shed more than 14% of its value, and Uniswap’s UNI token, which declined by 13.8%.