The token launchpad platform on Solana, LetsBonk, backed by BONK, is maintaining impressive growth, continuously breaking records across all metrics in recent weeks.
Explosion in Token Launches
In the past week, LetsBonk launched a total of 150,000 tokens, up 14% from 132,000 tokens the previous week. Notably, July 18 marked a historic milestone with 26,600 tokens launched in a single day, the highest ever recorded.
This growth has allowed LetsBonk to surpass its competitor Pump.fun, capturing 64% of the market share for token launches, compared to just 5% a month ago. Conversely, Pump’s market share has plummeted from over 90% to just 24% in the same timeframe.
Dominance in Graduated Tokens
Not only does LetsBonk lead in the number of launched tokens, but it also stands out with the number of “graduated” tokens (those qualifying for listing after the launchpad phase). On Wednesday, July 16, the platform recorded 282 graduated tokens, a 20% increase from the previous record of 234 tokens. Currently, LetsBonk holds 79% of the graduated token market share, while Pump only achieved 18% last Friday.
Outstanding Trading Volume
In terms of trading volume, LetsBonk has officially surpassed Pump. On Friday alone, the platform reached $179 million in trading volume, far exceeding Pump’s $52 million. Notably, just a month ago, LetsBonk was trading under $10 million per day, while Pump averaged 15 times that amount.
Thanks to the surge in trading volume, LetsBonk generated over $8 million in transaction fees last week, nearly doubling Pump’s approximately $4 million during the same period.
Related: Impressive Revenue for Pump.fun, Yet Prices Remain Stagnant
Token Comparison: BONK Dominates PUMP
Regarding the tokens of the two platforms, PUMP launched on July 14 after a public sale with a valuation of $4 billion. It peaked at $6.8 billion just 36 hours later but has since decreased to $4.4 billion.
In contrast, BONK, the native token of LetsBonk, started with a market cap of $2.25 billion when PUMP launched, later rising to $3.6 billion midweek, and currently stabilizing around $3 billion. Over the past 30 days, BONK’s market cap has increased nearly 200%, becoming one of the strongest-growing assets in the cryptocurrency market today.
