Pump.fun has been completely suppressed, what has LetsBonk done recently?

On July 7th, the “Battle of a Hundred Teams” on the Solana Launchpad finally reached a milestone victory. According to on-chain data, LetsBonk.fun has comprehensively overtaken Pump.fun in three core metrics: market share, trading volume, and the number of launched tokens, with the current market share standing at 55.22%, while the previously dominant Pump.fun has fallen to 34.86%.

Meanwhile, according to DefiLlama data, LetsBonk.fun has seen a protocol revenue of up to $1.04 million in the past 24 hours, surpassing multiple well-known protocols such as Pump.fun and Sky, rising to 16th place in the entire network.

In just one week, the on-chain landscape has undergone a dramatic change—where exactly did LetsBonk.fun excel?

Where Did LetsBonk.fun Excel?

LetsBonk.fun's overtaking was not accidental. From mechanism design to founder style, what it presents is a completely different narrative from Pump.fun—rather than harvesting, it focuses on co-building.

Firstly, from a mechanism perspective, LetsBonk.fun and Pump.fun are fundamentally different. Pump plays the "high fee cash-out" game, cashing out all profits from SOL, turning the platform into an arena for short-term players. LetsBonk, on the other hand, clearly has a long-term mindset—50% of platform fees are used to buy back and burn $BONK, with another 8% going into strategic reserves and reward mechanisms, establishing a more stable token value loop. This not only makes users participants but also co-builders of the platform's interests.

Secondly, founder Tom's "high-intensity online presence" has also become a community-favorite label. Starting from early June, he continuously released updates, responded to player feedback, fixed bugs, and pushed features, never missing a beat. On June 4th, he publicly announced that the Bonk ecosystem would see multiple positives, including hosting hackathons, buybacks of $USELESS and $HOSICO tokens, leading the Bonk community through the first wave of sentiment reversal.

What's even more notable is Tom's strong emphasis on the Chinese community—not only frequently using Chinese characters like "nihao" in his tweets but also actively learning about Chinese culture and actively engaging in the Chinese-speaking community. Rather than just operating, it's more accurate to say that he is truly "immersing" himself.

One of the most touching aspects is that Bonk's ecosystem, using its own funds, expresses a genuine belief in the ecosystem. Bonkguy has used a public address to spend millions of dollars buying assets such as $USELESS and $IKUN, and even during periods when ecosystem tokens have dropped by over 80%, he has chosen to steadfastly hold rather than cash out, showcasing a long-term attitude. This behavior is rare in the increasingly cutthroat PvP-oriented Solana ecosystem. This kind of action, boosting community confidence, far surpasses any official announcement.

Related reading: "From Silence to Breaking the Barrier, What High-Quality Assets are Available on Letsbonk.fun?"

What's Next for Pump.fun?

Over the past week, BONK's market capitalization has surged from $1 billion to $1.6 billion, showing rapid growth. On the other hand, Pump.fun is preparing to launch its platform token $PUMP with a valuation of $4 billion. This valuation doesn't seem unfounded—after all, Pump is able to contribute nearly $500 million in protocol revenue annually, with approximately $1 billion in cash reserves on its balance sheet, along with some tokens that may be used for community incentives or airdrops, making logical sense.

However, the issue is that this "reasonable model" is being shaken by LetsBonk.fun's strong comeback.

When a platform with only one-third of your market cap overtakes you in user activity, token issuance, and protocol revenue, the market naturally asks: is the $4 billion valuation paying for the future or the past? With an increasing number of users in the community choosing to "vote with their feet" and siding with Bonk, even before PUMP has issued its token, its valuation has been pushed to the edge of a cliff by its competitor.

LetsBonk.fun has leveraged both the "human touch" and real money to win the market's favor, but the battle is far from over in this Meme Launchpad competition. Who can go further will ultimately depend on who can sustain real value beyond the hype.

Welcome to join the official BlockBeats community:

Telegram Subscription Group: https://t.me/theblockbeats

Telegram Discussion Group: https://t.me/BlockBeats_App

Official Twitter Account: https://twitter.com/BlockBeatsAsia