4 hours ago
Pump.fun has regained its presumption arsenic the largest memecoin launchpad connected Solana implicit the past 2 weeks.
The dominance is evident successful some gross procreation and trading volume. According to data from Blockworks, Pump.fun dominated 62% of each gross generated from Aug. 4 to Aug. 17, which amounts to astir $16.7 million.
Regarding trading volume, Pump.fun reached astir $1.4 cardinal successful the aforesaid period, representing 55.6% of each trading measurement from memecoin launchpads from Solana.
The maturation successful some metrics comes from expanding token creation, with 293,192 tokens created utilizing Pump.fun’s infrastructure successful 2 weeks. This is equivalent to 66% of each tokens created successful the period.
Losing dominance
Pump.fun started losing crushed to Bonk.fun successful aboriginal July. The question was attributed to Bonk.fun’s buyback programme related to BONK, wherever 50% of Bonk.fun fees were directed to bargain and pain the token.
An further 8% of the fees were utilized to bargain and clasp BONK connected reserves. The exemplary attracted users to interact with the platform, resulting successful astir 606,000 tokens created from July 1 to Aug. 3. During the aforesaid period, Pump.fun saw 379,253 tokens launched.
Furthermore, the fig of tokens created connected Bonk.fun that surpassed $1 cardinal successful marketplace headdress grew 130%, portion Pump.fun’s slid by 7.5%.
The enactment and tokens occurrence prompted Bonk.fun to seizure 54% of the fees generated from July 1 to Aug. 3, portion Pump.fun got 24.4% of the gross from Solana memecoin launchpads.
Bonk.fun’s numbers adjacent influenced BONK, which jumped up to 134% successful July. Meanwhile, Pump.fun’s PUMP token collapsed from a afloat diluted worth of $4 cardinal to $2.4 cardinal successful the aforesaid month.
Getting the crown back
The reversion started connected Aug. 6, amid Pump.fun’s token buyback program becoming much aggressive. Since Aug. 7, the launchpad has ne'er bought little than $1 cardinal worthy of PUMP tokens, but for Aug. 9.
The question helped Pump.fun partially wide its estimation with crypto investors. They raised $1 cardinal from the PUMP pre-sale connected July 12 and person amassed astir $814 cardinal successful full gross since January 2024.
However, the launchpad constricted PUMP buybacks to six-digit acquisitions until Aug. 7.
Furthermore, Messari elder probe expert Matthew Nay argued that rumors of a PUMP airdrop besides helped to seizure idiosyncratic interest, resulting successful increasing numbers.
In a note, helium added that different catalyst was an X station from Pump.fun co-founder, Alon Cohen, which mentioned the instauration of assemblage coins and deploying gross into them done the Glass Full Foundation.
Nay concluded:
“With some of these headwinds, the dense deployers came backmost to the platform, on with the traders.”
The station Pump Fun reclaims Solana memecoin launchpad dominance with 62% gross stock implicit 2 weeks appeared archetypal connected CryptoSlate.
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