According to the source, DeFiLlama reports Hyperliquid generated $2.75 million in 24h revenue, ranking behind Tether and Circle and ahead of pump.fun at $1.83 million, per DeFiLlama. For traders, this indicates elevated fee capture and activity on Hyperliquid’s on-chain derivatives venue in the last 24 hours, per DeFiLlama. The timeframe is the latest 24h window as of September 19, 2025, based on DeFiLlama’s revenue dashboard, per DeFiLlama.