Experts have allowed for a weakening of Pump.fun's position among token launch platforms.

The dominance of Pump.fun among Solana launchpads may be shaken as new players emerge who will experiment with income distribution settings, “bonding curves,” and other mechanics. This is reported by Blockworks Research.

According to experts, such platforms have become the “main primitive” of public markets.

Currently, Pump.fun holds the lead with over 200,000 tokens created per week, and the percentage of DEX exits is approaching 2%. The rates have halved since January, but compared to the summer of 2024, they have increased by more than 100%.

The decentralized exchange Raydium’s competitor — LaunchLab — remained in the shadows until the emergence of the meme token Letsbonk.Fun. Now the platform allows the creation of “branded versions” of tokens, drawing attention to new opportunities.

Another DEX — Jupiter — was unable to gain traction — the number of tokens launched at its “factory” Moonshot was counted in several thousand per week.

On April 30, the competition in the sector was intensified by the launchpad boop.fun. The project aims to attract users through an airdrop.

Creators with large allocations need to launch the coin and achieve a certain market capitalization to receive their tokens. Activity has rapidly declined over the week, experts emphasized.

In the Base network, a similar surge in the popularity of launchpads was observed as in Solana.

Developers are experimenting with a wide range of ideas — from the automatic creation and trading of coins (Clanker) to integration with social networks (Zora). Beyond the latter, only 10-100 new tokens are registered on platforms weekly.

In Base, meme coins that are not related to “factories” dominate, making up the majority of the turnover. In comparison, in Solana, the share of Pump.fun is 10%.

According to Token Terminal, Pump.Fun raised $294 million in fees, surpassing Ethereum ($249 million). Over a weekly period, the platform’s leadership over the second largest cryptocurrency blockchain was observed for nine consecutive weeks.

It should be noted that in early May, the number of mentions of meme coins on social media reached a peak in 2025 against the backdrop of a shift in traders’ interest towards high-risk assets.

In March, the total trading volume on the DEX PumpSwap from Pump.fun exceeded $1.2 billion within a week after its launch.

Earlier, meme coins were named the most popular narrative of the first quarter of 2025 by CoinGecko.