LetsBonk Grows Market Share to 64% on Solana Meme Token Launch Platform

PANews reported on July 23 that according to The Block, the market share of LetsBonk, a Meme token launch platform based on Solana, has increased from 5% a month ago to 64% at present, while the market share of competitor Pump.fun has dropped sharply from 90% to 24% during the same period. In the past week, the LetsBonk platform issued a total of about 150,000 tokens, an increase of about 14% from the 132,000 tokens issued in the previous week. Its single-day issuance on July 18 set a new record of 26,600 tokens.

In addition, LetsBonk's trading volume last Friday was about $179 million, while Pump.fun's was only $52 million. Just a month ago, LetsBonk's average daily trading volume was less than $10 million, while Pump.fun's average daily trading volume was almost 15 times that of LetsBonk. The increase in trading volume has led to an increase in fee income. Last week alone, LetsBonk generated more than $8 million in fee income. During the same period, Pump.fun's fee income was only about half of that.