$LAUNCHCOIN has grown significantly in the past week, reaching an all-time high of $0.269 and a market cap of $216 million on May 14th. This strong rally was fueled by increased trading activity, with trading volume exceeding $90 million in the past 24 hours.
Ecosystem Growth Sparks Renewed Interest
Following its rebrand, the token has experienced strong rallies, breaking previous highs as community enthusiasm and market momentum fueled its price increase.
Solana co-founders Raj Gokal and Anatoly Yakovenko's support of the Believe platform, coupled with the widespread expectation that the $LAUNCHCOIN token would be the official native token of the Believe app, drew renewed interest in the token.
Some gains were also driven by growing excitement after Ben Pasternak, Founder of Believe.app, hinted at upcoming updates to the Believe ecosystem.
Alex Leiman, creator of RizzGPT, Astra, and other viral apps, launched $NOODLE on Believe, increasing market momentum and confidence in $LAUNCHCOIN and, by extension, the Believe ecosystem.
“$PASTERNAK has officially been rebranded as $LAUNCHCOIN.”
On May 2nd, Ben Pasternak announced that the token known as $PASTERNAK was officially rebranded as $LAUNCHCOIN. However, he stopped short of declaring it the official token of the Believe platform.
Before that, the Solana-based token launchpad, launched initially as Clout.me back in January, had already announced its rebrand to Believe on April 28th.
When it first launched in January under the name $PASTERNAK, the token surged to a $40 million valuation. Still, it soon crashed, dropping to a market cap of just $200,000, where it remained stagnant for several months until this recent surge.
Internet Capital Markets: Believe’s Approach
Believe focuses more on convenience as users simply need to post their desired token details on X and mention the @launchcoin account to generate a token, while the launchpad handles the heavy lifting behind the scenes.
The platform touts itself as “a new way to fund the future,” focusing on the internet capital markets. Founders can now seek funding onchain instead of the conventional venture capital (VC) funding route.
Data from BelieveScreener shows that the platform has generated a trading volume of $1 billion, with $463 million coming in the past 24 hours alone. The platform generated an estimated $6 million within the last 24 hours, split equally between the token creators and Believe. Users have launched more than 10,000 tokens so far, and activity on the platform is showing no signs of slowing down.
The total market cap of tokens launched on the platform is approaching $340 million at the time of writing. Some tokens launched on Believe so far include $DUPE, $GOONC, and $BUDDY, which have market caps of $39 million, $38 million, and $7 million, respectively. Believe may showcase outstanding projects to gain greater visibility and receive a $10,000 investment as a gesture of support for their mission.
The Bigger Picture
The explosive rise of $LAUNCHCOIN and Believe.app highlights the growing arms race among token launchpads on Solana. Platforms like LetsBonk.fun and Pump.fun are aggressively competing for market share, with others like Moonshot and GoFundMeme entering the fray. Each is trying to carve out a niche through ease of use, meme-driven marketing, or some other strategy to capture users’ attention and capital.
With billions in trading volume moving through the ecosystem, watching which platform emerges as the definitive launchpad for the next generation of Solana-native projects will be fascinating.
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