LetsBonk flips PumpFun in 24-hour revenue: DefiLlama

Solana memecoin launchpad, LetsBonk, surpassed its rival Pump.fun in 24-hour revenue, according to the data aggregated by decentralized finance (DeFi) platform DefiLlama. 

The latest DefiLlama figures show that LetsBonk generated $1.04 million in revenue in the last 24 hours, nearly doubling Pump.fun’s revenue of $533,412. LetsBonk’s revenue surge marks a rare shift in dominance in the Solana memecoin sector, where Pump.fun typically held the top spot. 

Both platforms offer simplified tools for launching and trading memecoins. However, LetsBonk appears to be gaining traction due to the support of the Bonk (BONK) memecoin community and its social campaigns. 

BONK is one of the most popular Solana-based memecoins around, with more than 430,000 followers on X. CoinGecko shows that the memecoin has a market capitalization of nearly $1.8 billion and a 24-hour trading volume of $1.2 billion, making it the top 58 crypto token by market capitalization.

Pump.fun still dominates the 30-day revenue chart

The LetsBonk memecoin launchpad was released on April 25. Its team dubbed the protocol a “self-serving launchpad for memecoins” and aims to address what its developers say are predatory practices in the space.

“We believe memecoins are here to stay and want to offer an alternative platform that believes in Solana for the long term,” LetsBonk wrote. The team also promised advanced features, deeper integrations and community-driven growth post-launch. 

The team also announced that it partnered with decentralized exchange (DEX) Raydium’s new LaunchLab contract, which allows users to access pools and bot integrations. 

While LetsBonk’s daily revenue has spiked, Pump.fun continues to dominate on a longer time horizon. DefiLlama data shows Pump.fun recorded more than $37 million in revenue over the past 30 days, compared with LetsBonk’s $4.5 million.

BONK memecoin rises over 51% since LetsBonk launch

The memecoin launchpad’s starting to gain traction seems to have also affected the price of BONK. On April 25, the BONK memecoin traded at around 0.00001535, according to CoinGecko.

At the time of writing, BONK trades at 0.00002332, showing an almost 52% increase in value since LetsBonk was released.