LetsBank's market share on Solana Meme token launch platform grows to 64%

According to The Block, the market share of LetsBank, a Solana based Meme token launch platform, has increased from 5% a month ago to 64% currently, while competitor Pump.fun's market share has plummeted from 90% to 24% during the same period. In the past week, LetsBank platform has issued about 150000 tokens, an increase of about 14% from the previous week's 132000 token issuances. Its single day issuance on July 18th set a new record of 26600 tokens. In addition, LetsBank had a trading volume of approximately $179 million last Friday, while Pump.fun was only $52 million. Just a month ago, LetsBank's daily trading volume was less than $10 million, while Pump.fun's daily trading volume was almost 15 times that of LetsBank. The increase in trading volume has led to an increase in fee income. Last week alone, LetsBank generated over $8 million in fee income. During the same period, Pump.fun's fee income was only about half of its total.