LetsBonk Overtakes Pump.fun as Leading Solana Meme Coin Platform

LetsBonk’s market share among meme coin platforms has grown dramatically—from 5% to 64% in just one month. Meanwhile, former leader Pump.fun’s share has dropped from 90% to 24%, according to The Block.

Over the past seven days, LetsBonk has launched around 150,000 coins, a 14% increase from the previous week. On July 18, the platform set a new daily record with 26,600 new tokens launched in a single day.

On July 16, the number of launchpad-created meme coins that began trading on DEXs such as Raydium also reached a new record of 282 coins. On these DEXs, LetsBonk’s platform share is estimated at 79%, while Pump.fun accounts for 18%.

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LetsBonk has also become the leader in daily trading volume, with $179 million compared to its competitor’s $52 million as of July 18. For comparison, one month ago, LetsBonk’s figure was less than $10 million, while Pump.fun’s exceeded $150 million.

The surge in transactions has led to a sharp rise in commission income. Last week, LetsBonk earned over $8 million in commissions, while Pump.fun brought in about $4 million.

BONK grows on the back of LetsBonk’s success

According to CoinGecko, BONK has risen in price by 185% over the past month. The asset’s market cap has reached $2.7 billion (55th place), and its daily trading volume is $1.5 billion. At the time of writing, BONK is trading at $0.000035, according to TradingView.

LetsBonk token is now one of the most popular Solana-based meme coins. The LetsBonk community on X (formerly Twitter) has amassed over 440,000 followers.

It is also noteworthy that on July 12, Pump.fun held the PUMP token ICO, raising $500 million. The token sale was completed in just 12 minutes. Almost 60% of pre-sale participants sold their tokens or transferred assets to centralized exchanges and other wallets shortly after the launch.