Bonk Memecoin’s 72% Surge May Influence Memecoin Market Cap Growth Amid Launchpad Competition

Key Points

1. Memecoin market cap reached $72 billion in July, driven by Bonk's 72% surge and LetsBonk launchpad's success.

2. LetsBonk overtook Pump.fun in 24-hour trading volume, generating $8.25 million in protocol revenue compared to Pump.fun's $4.91 million.

3. LetsBonk commanded a 51.9% market share in the last 24 hours, with a trading volume of $838 million, surpassing Pump.fun's $638 million.

4. Ethereum's rally, with ETH climbing over 22% in the past week, provided additional support to the memecoin market.

5. The memecoin market's growth reflects a dynamic and rapidly evolving ecosystem, with Solana-based launchpads gaining prominence.