LetsBonk multiple quantitative indicators outperform PumpFun, is the king of Solana Token launch platforms changing hands?

The LetsBonk platform, based on the blue-chip public chain Solana, is supported by the BONK Token. It has continued to maintain strong growth momentum in recent weeks, constantly setting new records across various quantitative indicators and outperforming its main competitor PumpFun.

In the past week, LetsBonk issued approximately 150,000 tokens, an increase of about 14% compared to the previous week's 132,000 tokens. Notably, July 18 set a historical record, with a single-day issuance of 26,600 tokens, marking a new all-time high.

LetsBonk's explosive growth has directly seized market share from its competitor PumpFun. As of now, LetsBonk holds about 64% of the market share in the number of issued tokens, a significant increase from 5% a month ago. In contrast, Pump's market share has plummeted from over 90% to 24% during the same period.

LetsBonk not only issued an astonishing number of tokens, but the number of tokens that achieved "graduation" (qualified for listing after the Launchpad round) continues to set records.

Currently, LetsBonk occupies 79% of the graduate Token market share, dominating the market, while PumpFun had only 18% market share last Friday.

(Source: The Block, Dune)

In terms of trading volume, LetsBonk has officially surpassed Pump. Just on Friday alone, LetsBonk's transactions reached approximately $179 million, far exceeding Pump's $52 million. Notably, just a month ago, LetsBonk's daily trading volume was less than $10 million, while Pump's average daily trading volume was 15 times that.

The surge in trading volume has also helped LetsBonk gain considerable fees, earning over $8 million in trading fees in just one week. During the same period, Pump's trading fees were only about half of LetsBonk's.

The status of the two major platform tokens: PUMP Token was launched on July 14, completed a round of public fundraising with a valuation of $4 billion, reached a peak of $6.8 billion just 36 hours after launch, and has now fallen back to $4.4 billion.

On the other hand, the native token BONK of LetsBonk had a valuation of 2.25 billion USD at the launch on PUMP, rose to 3.6 billion USD mid-week, and is currently around 3 billion USD. Over the past 30 days, the market cap of BONK has grown nearly 200%, making it one of the best-performing assets in today's cryptocurrency market.

Today (23) in the Asian after-hours, the PUMP Token is temporarily priced at 0.003740 USD, with a daily decline of 1.33%.