Summary
- The market share of the Solana (SOL)-based Pump.fun has surged to 90% in just two weeks.
- The market share of competitor Let's Bonk plunged from over 80% to about 3% during the same period.
- The main reason for Pump.fun's soaring market share is reportedly the migration of the top 10 meme coin creators.
According to The Block, a cryptocurrency-focused media outlet, as of the 18th (local time), the market share of the Solana (SOL)-based meme coin launchpad Pump.fun has soared from about 5% two weeks ago to 90% now.
In contrast, competitor Let's Bonk saw its share plunge from over 80% to about 3% during the same period.
The report analyzes that the main reason for this change was the mass migration of the top 10 meme coin creators (most of whom are bot accounts) from Let's Bonk to Pump.fun.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
