Solana Launchpad Market Share: Pump.fun Leads the Way
- Pump.fun leads with over 70% market share.
- Letsbonk follows with 21%.
- Pump.fun faces a $5.5 billion lawsuit.
In the Solana launchpad market over the last 24 hours, Pump.fun captured approximately 70-73% of market activity, with Letsbonk and Believe (also cited as Meteora) following.
Pump.fun’s dominance and ongoing legal scrutiny highlight the influence of meme speculation, impacting Solana’s market dynamics amid fading liquidity and growing regulatory focus.
The Solana launchpad scene has seen a shift, with Pump.fun leading with a 70–73% market share. Letsbonk is second, holding around 21%, followed by Meteora (Believe) with about a 1.8% share.
Market Dynamics and Challenges
Pump.fun processed significant cumulative revenue surpassing $800 million and currently deals with a $5.5 billion lawsuit. Meanwhile, Solana DEX volumes, fueling speculative investments, outpaced Ethereum, doubling its concurrent trading figures.
The rapid fluctuations in the market have affected institutional activities, with a revenue surge on Solana launchpads. However, Total Value Locked (TVL) in launchpads decreased by 40% compared to February, indicating potential market stress.
Impact of Speculation and Regulatory Concerns
The impact of meme coin seasons is evident, with a significant portion of dApp revenue linked to speculative launches. Such fluctuations drive discussions on liquidity generation and security against scams on these platforms.
The dominance of Pump.fun and the subsequent lawsuit introduce regulatory challenges. According to a market analysis, “Previous trends show short-lived spikes in governance tokens during yield farming booms.” The 98% scam rate for Pump.fun tokens led to increased scrutiny, mirroring patterns noted in earlier bull runs on Ethereum and BSC platforms.
Future Implications
Potential increases in market volatility could occur due to the high involvement of meme coins and speculative trading spurred by influencer activities.
