coindesk.com
Over the weekend, Bonk.fun overtook Pump.fun, the popular Solana token issuer, to become the leading launchpad in the market, claiming over 55% market share. This milestone is bumping up demand for $BONK, the Solana-based token at the center of its ecosystem.
New data show that Bonk.fun has facilitated over $540 million in volume across 175,000 launches, generating approximately $34 million in fees. That gives it a commanding 55.2% share of the meme launchpad market — ahead of Pump.fun’s 34.9% and $341 million in total volume.
Pump.fun had dominated the sector since its January 2024 debut, accumulating over $800 million in fees within two years.
Bonk.fun has flipped that lead in just two months, driven by deeper token incentives and faster platform traction and a $BONK buy-back plan that has caught the eye of some early investors.
"The massive increase in Bonk.fun market share helps $BONK through the aggressive market buy pressure it contributes to the $BONK token," shared widely-followed crypto investor theunipcs in a message to CoinDesk.
A key difference lies in Bonk.fun’s fee structure. 50% goes to buying then burning $BONK, 8% goes to buying $BONK for reserves, and the rest the platform keeps as revenue.
"50% of Bonk.fun fees goes towards buying and burning $BONK, and another 8% goes towards buying $BONK for reserves. When you consider that Bonk.fun has generated over $1 million/day daily since it flipped Pump.fun, that's at least $500,000/day in revenue-driven $BONK buy and burn," the trader added.
The biggest Bonk.fun-issued token is USELESS, an intrinsically useless token that jibes at its own lack of utility that has built a cult following in past week, helping propel it to over $100 million in market capitalization just weeks after going live.
If Bonk.fun continues to dominate at current pace, annualized $BONK purchases could reach into the hundreds of millions, further tightening supply.
Meanwhile, other Solana-based launchpads, such as Believe (3.8% market share), Jup Studio (2.1%), and Moonshot (1.7%), remain far behind in both volume and engagement.
Read more: Pump.fun Aiming to Raise $1B Via Token Sale at $4B Valuation: Blockworks