Solana meme coin launchpad LetsbonkFun has overtaken Pump.fun, seizing a dominant 55.8% market share, more than double Pump.fun’s 27.4%.
Key Takeaways:
- LetsbonkFun now leads Solana’s meme coin market with 55.8% share, more than double Pump.fun’s 27.4%.
- Its rise is driven by faster launches, BONK integration, and stronger user engagement.
- Pump.fun is losing momentum despite a $600M ICO and recent buybacks.
The lead is reflected in volume and user activity. LetsbonkFun processed $508 million in daily volume with 304,000 traders, compared to Pump.fun’s $249 million and 153,000 traders, according to data from Jupiter’s Launchpad leaderboard on August 5.
It also minted 18,357 tokens in a single day, while Pump.fun generated 5,388.
Faster Launches and BONK Integration Fuel LetsbonkFun’s Rise
The surge in dominance comes as LetsbonkFun continues to attract creators and traders with faster launches, stronger community engagement, and integrations with Solana-native assets like BONK.
The platform’s simplicity and speed have helped it become the go-to launchpad for meme token creators in recent weeks.
While Pump.fun once held the top spot in Solana’s memecoin boom, it now lags behind in both activity and sentiment.
Its bonded percentage stands at 0.48%, compared to LetsbonkFun’s 1.02%, signaling lower commitment from users.
Other launchpads remain far behind. BAGS holds 9.28% market share, followed by Jup Studio and Believe at 2.69% and 2.11%, respectively.
As reported, Pump.fun’s native token, PUMP, experienced a notable price setback after its much-hyped ICO.
The initial coin offering raised an impressive $600 million within just 12 minutes, selling 15% of the total 1 trillion PUMP supply to the public.
Additionally, 18% of the tokens were sold privately, valuing the fully diluted market cap at $4 billion.
Last month, Pump.fun executed a significant buyback, transferring nearly 188,000 SOL, worth around $31.3 million, to a dedicated wallet.
The repurchase of PUMP tokens at an average price of $0.0064 pushed the token’s price up by 17% to roughly $0.0067.
The platform has pledged to allocate 25% of its protocol revenues to ongoing buybacks. However, fee revenues for Friday totaled about $968,000, below the protocol’s average.
In a recent update, co-founder Alon Cohen unveiled a “community takeover” feature, allowing users to seize control of “abandoned” projects.
The mechanism aims to channel creator fees toward the most active community members who contribute through raids, content creation, and development.
Pump.fun Makes First Acquisition
Notably, Pump.fun announced its first acquisition last month. The meme coin launchpad purchased Kolscan, a Solana-based wallet tracker that monitors top on-chain traders.
The integration will merge Kolscan’s analytics with Pump.fun’s social trading features, enhancing transparency, wallet tracking, and copy-trading capabilities.
Co-founder Alon Cohen emphasized that trading is a “social sport,” highlighting the importance of community and shared insights in driving success within the ecosystem.
As part of the deal, all Kolscan services will be made free to users.
Pump.fun has already attracted tens of thousands of users and intends to build a scalable crypto social media platform, leveraging Kolscan’s tools to grow its community and influence.
The post Solana’s New Meme King: LetsbonkFun Leaves Pump.fun in the Dust with 2x Lead appeared first on Cryptonews.
