Solana’s leading memecoin launchpad, Pump.fun, has crossed a major milestone, generating more than $800 million in lifetime revenue, according to on-chain data.
The platform, which charges a 1% swap fee on all transactions, has cemented itself as a central player in the booming memecoin ecosystem.
Although Pump.fun fueled last year’s memecoin craze, its dominance has recently been tested by LetsBonk.fun, a rival platform backed by the Bonk community.
LetsBonk briefly overtook Pump in token graduations earlier this summer, but Pump has since regained momentum, helped by a wave of top memecoin deployers migrating back to its ecosystem.
Revenue trends show a sharp divergence between the two competitors. Pump continues to generate over $1 million daily, while LetsBonk’s daily revenue has fallen from nearly $1 million to under $30,000.
The platform also made headlines with its native token launch last month, raising $600 million in minutes during its initial offering. Pump is now conducting token buybacks at prices above market value in an effort to stabilize performance.
Beyond Solana, competition in the memecoin sector is heating up across blockchains. Coinbase-incubated Base has overtaken Solana in new memecoin launches, thanks to its integration with decentralized social app Zora. Data shows Base saw nearly 58,000 memecoins created in a single day, compared with about 33,000 on Solana.
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Source: https://coindoo.com/solanas-pump-fun-explodes-past-800m-while-rival-letsbonk-crashes/