- LetsBONK launched over 15,600 tokens, while Pump.fun launched 11,500
- LetsBONK processed $86 million more than Pump.fun on July 6
- BONK recently became Solana’s top memecoin by market cap
LetsBONK has officially overtaken Pump.fun as the #1 memecoin launchpad on Solanas, surpassing it on July 6 in token launches, graduations, and volume.
According to Dune Analytics and Jupiter data, LetsBONK launched over 15,600 tokens, while Pump.fun launched 11,500.
The number of graduated tokens on LetsBONK was 135 versus 103 on Pump.fun. Graduation typically means a token met the liquidity and trading milestones required to be listed on larger Solana DEXs.
When it comes to 24-hour trading volume, LetsBONK processed $86 million more than Pump.fun that day. Also, LetsBONK has 49.8% of the market share in daily activity, compared to Pump.fun’s 40.9%.
It’s worth noting that Pump.fun still has more active traders, but LetsBONK has more volume and launch throughput, showing rising momentum.
LetsBONK’s rise
There are several factors why LetsBONK is seeing a surge.
For instance, LetsBONK is designed to funnel economic activity back into BONK (which recently became Solana’s top memecoin by market cap). As a result, 50% of platform fees buy and burn BONK, reducing supply. Additionally, fees are used to purchase BONKSOL (BONK-staked SOL), which strengthens liquidity.
There are also a lot of community incentives and engagements, where it was reported that a $200K hackathon just wrapped up. Then, there are plans for a 1 trillion BONK burn when BONK reaches 1 million holders.
Also worth mentioning is that LetsBONK has leaned into an even simpler onboarding process than Pump.fun, with UI improvements and lower minimum liquidity thresholds to spin up tokens. The platform rewards creators based on total trading volume, encouraging promoters to launch more tokens.
Pump.fun’s fall
While Pump.fun still leads active traders, meme token virality, and social footprint, if things continue to go this way, that may not be the case in the future.
As such, Pump.fun is fighting back, and it’s rumored (per BSCN News) to be preparing a $1 billion ICO (Initial Coin Offering) later this year. Furthermore, the platform may also introduce revenue-sharing features to attract creators and holders.
LetsBONK’s rise marks the first real competitive threat to Pump.fun’s dominance in Solana’s memecoin launchpad space, and things could get very interesting for the memecoin industry in the near future.
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