LetsBonk loses 80% of market share in two weeks

On 13 August, another memecoin launch platform appeared on Solana — Heaven

Pump.fun has regained the lead in the sector, its share reaching 90%. Meanwhile its main rival, LetsBonk, has slipped to 3%, reports The Block. 

Just two weeks ago the picture was the reverse: LetsBonk controlled more than 80% of the market, and Pump.fun 5%.

The abrupt swing came after the biggest memecoin creators, including bots, moved en masse from LetsBonk to Pump.fun, crypto trader WazzCrypto noted, citing Dune data. 

It basically happened again in real time

The TOP10 deployers on BonkFun (mostly bots), just started deploying en mass to Pumpfun again, and the market share shifted 90% overnight again

You can actually see this happening onchain if u just open the explorers. https://t.co/CgRsRWBzMC pic.twitter.com/77xcCcgOjj

— Wazz (@WazzCrypto) August 12, 2025

“The top ten token developers (mostly bots) again began to mass-issue new assets on Pump.fun, and the platform’s market share increased to 90% overnight,” he wrote. 

Back in July, Coinbase director Conor Grogan said that most coins on memecoin-launch platforms are created by automated scripts, with some accounts doing so every three minutes. 

The great majority of tokens launched on PumpFun and LetsBonk are today run by bots; the below chart pulls new tokens launched on Letsbonk over the last 24 hours. The top accounts launch, on average, one new token every 3 minutes https://t.co/b5Inljc9z9 pic.twitter.com/S1GMqcrXkG

— Conor (@jconorgrogan) July 7, 2025

As of August 18, Pump.fun had 123,847 daily active addresses, while LetsBonk had 9,614. At the start of the month the figures were 58,575 and 80,129, respectively. 

Over the past 24 hours, trading volume on Pump.fun exceeded $175m. On LetsBonk it was $2.6m, down from $114.5m recorded on August 1. 

Why Pump.fun leads

The Block reckons Pump.fun is poaching users from LetsBonk thanks to active purchases of its native token. Last month the platform began buying it using its own profits. Earlier, reports emerged that the platform intended to share revenue with PUMP holders. 

Judging by the latest data, Pump.fun stepped up its token purchases in August. 

On August 8 the platform also launched the Glass Full Foundation (GFF), an initiative to develop Solana’s memecoin ecosystem. 

According to SolanaFloor, LetsBonk is trying to regain ground. On August 18, it signalled plans to introduce a points programme to incentivise memecoin creators and traders. 

🚨BREAKING: @bonk_fun has introduced a Points tab on its launchpad, suggesting plans to roll out a points system aimed at incentivizing creators and traders. The move follows a steep decline in its market share, as https://t.co/VS31GZ2FXq has taken the lead across key metrics… pic.twitter.com/qOy3GPFZTp

— SolanaFloor (@SolanaFloor) August 18, 2025

At the end of July, the project also promised to allocate 1% of revenue to buybacks of tokens in the BONK ecosystem, but that did not stem user outflows.

A new challenger 

In mid-month another memecoin-launch platform appeared in the Solana ecosystem — Heaven. One hundred percent of protocol revenues go to perpetual buybacks and burns of LIGHT tokens.

The platform has already burned $1.7m worth of coins — 2.1% of the 1bn total supply. 

Unlike Pump.fun and LetsBonk, Heaven combines a launchpad with its own DEX. Only platform-approved assets trade there. The developers manually vet each project and control liquidity. That minimises the influence of MEV bots. 

Within a few days, the newcomer had already overtaken LetsBonk by number of tokens launched — 4,761 versus 434 as of August 18. 

Earlier, the Heaven team also unveiled the Starseed programme — an analogue of Pump.fun’s GFF. The initiative aims to support promising projects on the platform. 

On August 13, the Bitcoin-based memecoin platform Odin.fun lost 58.2 BTC (~$7m) in a hack.