According to data compiled by the decentralized finance (DeFi) platform DefiLlama, the Solana meme coin launch platform LetsBonk has surpassed its competitor Pump.fun in revenue over the past 24 hours.
The latest DefiLlama data shows that LetsBonk generated $1.04 million in revenue in the last 24 hours, nearly double Pump.fun's revenue of $533,412. The surge in LetsBonk's revenue marks a rare shift in dominance in the Solana meme coin space, where Pump.fun has typically held the top position.
Both platforms offer streamlined tools for meme coin issuance and trading. However, LetsBonk seems to have gained attention due to the support from the Bonk (BONK) meme coin community and its social activities.
BONK is one of the most popular meme coins based on Solana, boasting over 430,000 followers on the X platform. CoinGecko shows that the meme coin has a market capitalization close to $1.8 billion, with a 24-hour trading volume of $1.2 billion, making it the 58th ranked cryptocurrency by market cap.
The LetsBonk meme coin launch platform was launched on April 25. Its team describes the protocol as a "meme coin self-launch platform," aimed at addressing what developers have called predatory practices in the space.
"We believe meme coins will continue to exist and hope to provide a long-term alternative platform for those optimistic about Solana," LetsBonk stated. The team also promised to deliver advanced features, deeper integrations, and community-driven growth after the launch.
The team also announced a partnership with the new LaunchLab contract of the decentralized exchange (DEX) Raydium, which allows users to access liquidity pools and bot integrations.
While LetsBonk's daily revenue has surged, Pump.fun continues to dominate over a longer time frame. DefiLlama data shows that Pump.fun recorded over $37 million in revenue over the past 30 days, while LetsBonk generated $4.5 million.
The growing attention on the meme coin launch platform also seems to have impacted the price of BONK. According to CoinGecko data, on April 25, the trading price of the BONK meme coin was approximately $0.00001535.
As of the time of writing, the trading price of BONK is $0.00002332, representing an increase of nearly 52% since the launch of LetsBonk.
Related: LetsBonk Data Surpasses Pump.fun, Boosting BONK Surge | UAE Clarifies Digital Currency Investor Ineligibility for Golden Visa
Original article: “DefiLlama Data Shows LetsBonk Surpassing PumpFun in Daily Revenue”
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