PANews reported on July 23 that, according to The Block, the market share of LetsBonk, a meme token launch platform based on Solana, has grown from 5% a month ago to 64% currently, while its competitor Pump.fun's market share has plummeted from 90% to 24% during the same period. In the past week, the LetsBonk platform issued approximately 150,000 tokens, an increase of about 14% from the previous week's 132,000 tokens, with a single-day issuance record of 26,600 tokens on July 18.
Additionally, LetsBonk's trading volume was around $179 million last Friday, while Pump.fun's was only $52 million. Just a month ago, LetsBonk's average daily trading volume was less than $10 million, and Pump.fun's was almost 15 times that of LetsBonk. The increase in trading volume has led to higher fee income, with LetsBonk generating over $8 million in fees last week alone. During the same period, Pump.fun's fee income was only about half of that.
