Solana's memecoin landscape sees a shift, with LetsBonk surpassing Pump.fun as the leading launchpad for the first time. Despite a stable total number of token launches, daily transactions are declining, and new user accounts are at half their April peak. Yet, the increased activity on LetsBonk has injected new life into the Solana network, as noted by Bitget's COO. LetsBonk minting numbers soared to over 22,000, gaining more than 50% market share compared to Pump.fun. Amberdata's Michael Marshall attributes Bonk's success to its economic model that encourages user participation through buying and burning tokens. While overall activity appears flat, user-driven transactions related to minting and swapping are increasing. Moreover, bots have been identified in both launchpads, impacting the creation and trading of tokens. Despite the chaotic memecoin environment, experts believe the market is stabilizing, signifying a maturation process in Solana's meme economy, which is different from previous NFT marketplace dynamics.

Source đź”—