Pump.Fun -Token is $ 2 billion in market capitalization after massive ICO – but it has not yet caught Bonk

Popular Solana token Launchpad Pump.Fun debuted his token on Monday and immediately entered the top 65 tokens per market hood. It followed a huge initial currency range of $ 600 million, or ICO, which was sold out in just 12 minutes at the weekend.

Nevertheless, Pump under Bonk remains in terms of market capitalization, a meme coin project that comes with pumps. Fun while the Solana Launchpad -market share steals.

At the time of writing, Pump.fun is on a market capitalization of $ 2 billion, according to Coetecko, making it the 63rd largest cryptocurrency. To put that in perspective, the project places above the official meme coin for US President Donald Trump and Sam Altman’s World, formerly known as WorldCoin.

But rival Bonk project is currently being traded on a market capitalization of $ 2.23 billion – $ 230 million for pump. To be clear, Bonk was launched at the end of 2022 as a Solana Meme Coin. By January it started to pick up steam, slide and then pumped when the developers burned 5 trillion coins to captivate the price.

The team and the community that Bonk made have continued to create a telegram Trading Tool Bonkbot, a Dog charity buddies for legs and more. Meme Coin Launchpad Lettonk, who debuted in April, is the newest of those projects.

Last week, Letsbonk Pump.Fun played in daily tokens and, according to Dune Data, seven of the last eight days remained at the top. The Launchpad was made by the Bonk Meme Coin Community, hence the shared name with the token.

Letsbonk is very similar to pump. Fun because it enables everyone to launch free tokens quickly. Letsbonk, however, also has the total token stock controlled and is supported by the launchlab infrastructure of Raydium.

Comparing the pump and bonk tokens is not a comparison with Appels-Tot apples, because the team behind the OG Solana Meme Coin has a wider catalog of offers. Bonk is integrated into dozens of Defi projects, games and DEV tools and even has its own stadium sponsorship. While pump – which is a sign and not a meme – is only focused on pump.Fun.

That said, Pump.Fun is unmistakably one of the largest crypto projects that have emerged in recent years and last year the fastest crypto company that has achieved $ 100 million in income will be. Since then, according to Dune Data, it has covered $ 784 million in income.

The platform enables everyone to make a Solana token for free in less than a minute. It has led to creating more than 11.89 million tokens since the launch of January 2024, many of which have been viral successes – think of Moo Deng, Fartcoin and Chill Guy.

More recently, the project has invested more in the expansion of its streamer ecosystem by financing large streamer projects and paying users to post viral clips of their favorite pump. Fun -Makers.

That bullish on pump is now eagerly waiting for details about when the launchpad tokens will lead to users of the platform. In his tokenomics, 24% of the offer was devoted to ‘community and ecosystem initiatives’, which, according to many, suggests that an airdrop is on the road. Predictors on countless markets believe that there is a 47.7% chance at the end of July that Pomp.Fun Airdrops.

Pump.fun refused to respond to DecryptThe request for comments.

(Disclosure: countless a prediction market has been developed by DecryptThe parent company Dastan.)

What happened on the launch day?

During the first trading day, Pump has remained fairly stable, and a low point of $ 0.0049, a highlight of $ 0.0061, and is currently at $ 0.0055. At its peak, it traded with a premium of 65% compared to its ICO price of $ 0.004.

According to Dune Data, this led 21.6% of the ICO participants to sell the token through decentralized fairs and 43.4% to transfer it from their wallet. It is worth noting that the transfer of tokens does not mean that the trader has sold the tokens; Moving tokens can easily mean that splitting tokens between portfolios.

In addition, 31.8% of the buyers of public sale have retained their tokens, with 3.2% even more tokens after the launch.

Due to the lack of volatility, according to Dex Screener, there seem to be not a big winners who pump with top traders traders, who needs millions of dollars to make considerable profit.

As you can expect, a current knock-off coins was launched next to Pump, including the official pump that is not very official. It peaked on a market capitalization of $ 3.13 million and has since crashed 74.75%.