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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
Just shy of the $4,891 ATH—think it breaks through?
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Dare to trade. Dare to win.
The head-to-head race between Pump.fun and LetsBonk on Solana
The context of memecoin launchpad platforms on Solana is witnessing the formation of a fierce competitive "duopoly" between the "giant" Pump.fun and the emerging competitor LetsBonk, with noticeable market share fluctuations in recent months. Instead of looking at the total number of tokens launched — which includes many noise factors — the analysis focuses on the group of "graduated tokens" (token đã tốt nghiệp), reflecting more substantive activity.
Throughout 2025, Pump.fun maintained its leading position with about 80% market share in the graduated tokens segment, becoming the default choice for memecoin projects on Solana. However, in early July, LetsBonk made a breakthrough, quickly capturing nearly 70% market share, demonstrating a flexible change in user preferences. Incentive programs like airdrops are also a major driving force behind trading volume, as users anticipate rewards.
On August 6th, Pump.fun regained the number one position from LetsBonk in terms of the number of new tokens launched in the previous 24 hours.
Both platforms differentiate themselves through their approach and fee mechanisms: Pump.fun implements a bonding curve model with a market cap threshold of approximately 69,000 USD for the token to "graduate", with a token creation fee of 0.05–0.1 SOL and a transaction fee of 1–2%. Meanwhile, LetsBonk allows for instant listings on AMMs like Raydium and Jupiter, applying a swap fee of 1%.
After a strong market share loss in July, Pump.fun has regained about 75% of its market share according to the latest data. Despite fierce competition, the launchpad activity remains vibrant with a trading volume of around 120 million USD daily. The native token of Pump.fun has increased by about 13% in the past 24 hours, reaching a market capitalization of nearly 1.2 billion USD.
But no matter how the battle goes, the winner is still Solana, as the 2 platforms have attracted many users to this blockchain network.