The memecoin market has experienced significant growth this month, driven primarily by a remarkable surge in Solana-based Bonk (BONK) and the strong performance of the LetsBonk launchpad.
Market capitalization for the sector reached $72 billion this July. This growth was propelled by Bonk’s impressive 72% price increase, alongside LetsBonk overtaking competitor Pump.fun in key metrics.
In the last 24 hours, LetsBonk generated $8.25 million in protocol revenue and commanded a 51.9% market share within its competitive segment, facilitating $838 million in trading volume. This exceeds the $4.91 million in revenue and $638 million volume recorded by Pump.fun during the same period.
The broader crypto market rally, particularly Ethereum’s climb exceeding 22% over the past week, provided additional support and momentum for memecoin assets.
This rapid development underscores the dynamic evolution within the memecoin ecosystem, highlighting the increasing prominence of Solana-based platforms like LetsBonk shaping market participation and capital flow.