LetsBonk’s share among platforms for launching meme-coins surged from 5% to 64% in a month. Meanwhile, former leader Pump.fun saw its share plummet from 90% to 24%, reports The Block.
In the past seven days, approximately 150,000 coins were launched via LetsBonk — a 14% increase from the previous week. On July 18, the platform set a new record with 26,600 new tokens in a single day.
On July 16, the number of meme-coins created on the launchpad that began trading on DEXs like Raydium also reached a record high of 282 coins. Here, the platform’s share is estimated at 79%, while Pump.fun holds 18%.
LetsBonk led in daily trading volume with $179 million compared to its competitor’s $52 million as of July 18. For comparison, a month ago, the platform’s figure was less than $10 million, while Pump.fun exceeded $150 million.
The increase in transactions led to higher commission revenues. Last week, LetsBonk earned over $8 million, while Pump.fun garnered around $4 million.
BONK rises amid LetsBonk’s success
According to CoinGecko, BONK appreciated by 185% over the past month. The asset’s market capitalization reached $2.7 billion (ranked 55th), with a daily trading volume of $1.5 billion. At the time of writing, the meme-coin is trading at $0.000035, according to TradingView.
The LetsBonk token is one of the most popular meme-coins based on Solana. The X community boasts over 440,000 subscribers.
Back on July 12, the ICO PUMP by Pump.fun raised $500 million. The token sale concluded in 12 minutes. Nearly 60% of presale participants sold or transferred assets to centralized exchanges and other wallets.
On July 22, the PUMP rate fell below the ICO price. From its peak of around $0.0068, the token declined by 45%.