LetsBonk has achieved exceptional growth, capturing 64% of the Meme Token market share on the Solana platform, far surpassing its main competitor Pump.fun.
In just one month, LetsBonk has surged from a 5% market share to 64%, with significant increases in token issuance and trading volume, contributing to record-high fee revenue.
MAIN CONTENT
LetsBonk increased its market share from 5% to 64% in one month on the Solana platform.
The weekly token issuance of LetsBonk reached nearly 150,000, up 14% from the previous week.
The trading volume and fee revenue of LetsBonk far exceed that of Pump.fun.
How is LetsBonk's market share growing compared to its competitor Pump.fun?
LetsBonk has risen to claim 64% of the Meme Token market share in just one month, a strong increase from 5% last month, while Pump.fun dropped from 90% to 24% in the same period. Reports from The Block show this significant shift in the Solana market.
The market share shift reflects the trend of users and investors gradually moving to the LetsBonk platform due to better features and operational efficiency, demonstrating the rapid development and competitiveness of token issuance platforms in the cryptocurrency space.
How has the token issuance volume of LetsBonk increased recently?
LetsBonk issued approximately 150,000 Tokens in the most recent week, an increase of 14% compared to 132,000 Tokens the previous week. Notably, on July 18, the platform recorded a record issuance of 26,600 Tokens in one day.
This increase demonstrates the growing credibility and appeal of LetsBonk to token issuers and the cryptocurrency investment community, while also reflecting its strong processing and operational capabilities in the Solana ecosystem.
How is the trading volume and fee revenue of LetsBonk?
According to The Block, last Friday, LetsBonk's trading volume reached around 179 million USD, while Pump.fun only reached 52 million USD. A month earlier, LetsBonk's trading volume was just under 10 million USD per day, while Pump.fun was 15 times higher.
The breakthrough growth in trading allows LetsBonk to generate over 8 million USD in fee revenue in just one week, double that of Pump.fun. This reaffirms LetsBonk's operational capabilities and user appeal in the cryptocurrency market.
The growth rate and fee revenue of LetsBonk have far exceeded expectations, confirming the platform's new position in the Meme Token market based on Solana.
Speaker: CEO of the LetsBonk platform, July 2024
How does LetsBonk compare to Pump.fun in key metrics?
LetsBonk Index (July 2024) Pump.fun (July 2024) Token Release Market Share 64% 24% Weekly Token Issuance ~150,000 Tokens Not Disclosed Accurately Highest Daily Trading Volume 179 million USD 52 million USD Weekly Fee Revenue 8 million USD 4 million USD (estimated)
Frequently Asked Questions
1. Why has LetsBonk's market share increased so rapidly?
LetsBonk's growth is attributed to effective token issuance on Solana along with improvements in user experience and strong community engagement.
2. What factors help LetsBonk surpass Pump.fun?
The platform has advanced technology, a larger token issuance volume, and a surge in trading volume, leading to significantly higher fee revenue.
3. How does the increase in trading volume affect fee revenue?
Increased trading volume means more transaction fees, helping LetsBonk and other platforms significantly improve their revenue.
4. What can we expect from LetsBonk in the future?
With the current growth rate and strong technology platform, LetsBonk is expected to continue dominating the Meme Token market and expanding its ecosystem.
5. Will the decline of Pump.fun have a significant impact?
The decline in market share of Pump.fun may reduce revenue and impact reputation, requiring rapid improvements to compete.
Source: https://tintucbitcoin.com/letsbonk-thong-tri-64-meme-token-solana/
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