The challenger launchpad is leading by 24-hour volume and revenue.
Memecoin launchpad letsBONK recently flipped the perennial No. 1 Solana memecoin launchpad, pumpfun, for the first time and continues to hold the top spot as of today, July 8.
LetsBONK currently has a market share of 47.4% with $528 million in daily volume, while pumpfun follows with 41.2% of the market at $363 million in trading volume, according to data from Solana DEX aggregator Jupiter. As recently as mid-April, pumpfun had a 99% market share, per to Dune Analytics data.
LetsBONK is currently also ranking first by number of token mints, with 20,234 mints over the past 24 hours, compared to pumpfun’s 9,762.
Both launchpads offer tools that make it quick and easy to launch and trade memecoins based on the Solana blockchain, but letsBONK first differentiated itself when it launched this April by offering token creators 1% of its trading fees. Pumpfun followed suit not long after in May, announcing it was offering creators 0.05% of their token’s trading volume.
Social Media Support
Beyond that, letsBONK was launched by the creators of the Bonk (BONK) token, one of Solana’s most popular memecoins and a top-100 crypto asset by market cap, currently ranking 60th. LetsBONK has seen support from BONK on social media, whose official X account has over 433,000 followers.
On July 6, when letsBONK’s market share led 50% to pumpfun’s 40%, letsBONK founder @SolportTom said “Gap is widening,” on X. “Still a long road ahead to make sure this is a daily occurrence, but the battle is on.”
When the platform launched on April 25, the letsBONKteam said on its X account, “For too long, the meme coin market’s been plagued by predatory actors—now it’s time for a change… We believe meme coins are here to stay and want to offer an alternative platform that believes in Solana for the long term.”
Still Behind with Users
DeFiLlama data show that letsBONK 24-hour revenue is more than twice that of pumpfun, with $1.23 million compared to $520,000, another first flip. On the other hand, pumpfun remains far ahead in terms of number of traders on the platform, with 364,000 to letsBONK’s 196,000, according to Jupiter data.
Useless Coin Driven
A fair amount of letsBONK’s growth is driven by Useless Coin (USELESS), a memecoin launched on the platform that has seen notable growth recently, its price up nearly 2,000% over the past month.
Useless Coin, which claims nothing more than being absolutely useless, is among the small number of survivors of the brief launchpad boom that saw traders trying to find the next big wealth generating token on pumpfun competitors.
On July 7, a countdown page appeared on top-10 centralized crypto exchange Gate for the initial coin offering of pumpfun’s PUMP token, showing that it was scheduled for July 12, however the page was deleted soon after. As The Defiant reported last month, pumpfun is planning to raise $1 billion in private and public sales of the token, according to sources familiar with the matter.
