Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Solana meme coin launchpad Pump.funhas lost a significant chunk of its market share to LetsBonk.fun. This comes just ahead of the former’s token generation event, in which the launchpad could raise up to $4 billion. Solana’s Pump.fun Loses Dominance To LetsBonk.fun
In an X post, Solana News revealed that Pump.fun has hita new all-time low with just a 36% market share, while LetsBonk.fun’s market share has surged to 54%. Jup dataalso confirms this development. At press time, LetsBonk boasts a market share of 48.90%, with a 24-hour trading volume of $539 million. On the other hand, Pump boasts a market share of 39.80%, with a 24-hour trading volume of $438 million. Related Reading Analyst Says Buying This Meme Coin Is A 3X Leveraged Play If Solana ETFs Go Live 1 week ago
This development comes amid Pump.fun’s proposed public token sale, scheduled for July 12. Well-known Solana influencer Lynk has describedthis token sale as the “final scam” for the meme coin launchpad. The platform has been under heavy criticism for the amount of money that it has extracted from the Solana ecosystem, without incentivizing community members in any way. Source: Solana News on X
Some community members had expected Pump.fun to airdrop its token to rewards platform users instead of conducting a public token sale. Lynk shared details of the public sale, with the meme coin launchpad planning to sell the ‘PUMP’ tokens $0.004 each. The token boasts a total supply of 1 trillion, meaning a fully diluted value (FDV) of $4 billion.
However, Pump.fun plans to raise around $600 million from the public token sale, as only $150 billion tokens will be available. The meme coin launchpad is expected to also conduct a private sale in order to complete its $1 billion capital raise effort, as earlier reported. LetsBonk.fun To Keep Dominating Pump.fun
In an X post, crypto influencer Unipcs, also known as ‘Bonk Guy,’ opined that Pump.fun isn’t done, but that LetsBonk.fun will likely continue to be the industry leader. He predicts that this will be the case for the foreseeable future. He outlined several reasons why he believes this would be the case. Related Reading Solana Picture Bigger Than $420: Analyst Predicts 140% Surge To New ATHs 1 month ago
Firstly, he stated that LetsBonk’s pro-creator, pro-people, pro-Solana ecosystemalignment is a massive strength over Pump.fun. Secondly, Bonk Guy remarked that the strong culture of support within the BONK ecosystem is incredibly hard to replicate by any other platform in a short period.
Furthermore, the crypto influencerremarked that Pump.fun had a lot of momentum as a tokenless protocol, especially with a token generation event (TGE). However, LetsBonk.fun was able to flip the platform during this period. As such, Bonk Guy believes that it is hard to see Pump.fun sustainably recover the kind of market share it once had after the TGE event.
He also suggested that a “non-negligible amount of activity on Pump.fun is inorganic with a lot os users farming on the platform, hoping that there was going to be an airdrop. As such, the influencer believes that the traffic will dry up once the TGE is over. SOL trading at $150 on the 1D chart | Source: SOLUSDT on Tradingview.com Featured image from Adobe Stock, chart from Tradingview.com