Pump.fun Reclaims Lead in Solana Launchpad Race

After briefly relinquishing its grip on the memecoin trenches, pump.fun is back in control of Solana’s fiercely competitive launchpad race.

Beyond its dominance of launchpads, data suggests the pump social trading app is gaining considerable ground on fomo, the market leader.

Having once again shrugged off emerging rivals, $PUMP has bounced 63% off recent lows, roaring back to an FDV of $5B.

Pump.fun Commands 73% of Launchpad Market Share

Once again, pump.fun has weathered the storm, fighting off an emerging competitor to reclaim its lead as crypto’s most popular venue for launching memecoins. Despite recent challenges from Pons and Stonk, pump.fun has bounced back to lead all platforms in revenue, volume, and token deployments.

According to Blockworks data, pump.fun now commands over 73% of daily revenue share across launchpads. Pump’s reclamation of the lead comes following a period of uncertainty for the venue. Just two weeks earlier, the newly-recrowned market leader was ranked in 3rd position behind Stonk and Pons.

Consistent with its rising revenues, pump has also retaken the lead in token volume and deployments. Despite the novel challenges to token launch mechanisms offered by Pons and Stonk, onchain memecoin markets appear to have defaulted back to pump.fun as their primary launching infrastructure.

Fomo Volume Declines as Onchain Markets Cool

After a blistering month, onchain trading activity is starting to lose some of its momentum. In the week ending September 27, onchain DEX volumes slipped to $48.9B across all chains, its lowest point in the last 30 days.

With speculative onchain trading activity slowing down, social trading apps like fomo have witnessed a slight decline in activity. On September 28, fomo recorded $162M in daily volume, marking a 26% drop from the $220M recorded one week earlier on September 21.

But despite declining volumes, fomo maintains a loyal user base. Dune Analytics data suggests fomo boasts over 105,000 daily active traders, while dominating all trading apps in sheer volume.

While pump has reclaimed the lead in the launchpad wars, fomo remains the clear winner in the social trading race. Blockworks data suggests around 21,000 accounts place trades on the pump app on a daily basis, representing just 20% of fomo’s userbase.

This hasn’t stopped the pump app from hitting all-time highs of its own, however. Pump’s internal data suggests the platform recently recorded a new all-time high in Solana-based volume, implying that Solana remains the default execution layer for memecoin trading.

$PUMP Bounces 63% Off Lows

With competitors like pons and stonk relinquishing market share to pump, capital is pouring back into crypto’s leading launchpad. After tumbling as low as $0.0035, $PUMP has roared back to prominence, surging over 63% in the last two weeks to exchange hands at $0.0058.

Now generating over $13.6M in weekly revenue, pump has reaffirmed its position as one of the strongest businesses in the crypto industry. However, while the protocol has committed 50% of all platform revenue to token buybacks and burns, pump.fun’s current revenue does not completely offset the asset’s vesting schedule which issues ~7B $PUMP, worth $40.5M, to early investors each month.

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