There’s been a noticeable resurgence in the memecoins space over the past couple of weeks and the numbers become apparent when we look at launchpad metrics. In fact, Blockworks data shows that last week saw over 587,000 tokens created on launchpads, the largest number of tokens launched in a single week. That said, there is one launchpad grabbing all the headlines and the numbers of late.
Pump.fun drew $1,118,478 in revenue on August 9. Meanwhile, the rest of the launchpads in total made $22,642. That gives the Solana platform a 98% cut of the $1,141,120 the entire category earned that day. This makes it the most lopsided this market has looked since April 2025 when there were far fewer projects.
Source: Blockworks
Pump.fun’s revenue hitting $1.1 million on the day was also something not seen since March, capping a recovery that has been building for a couple of weeks. Volume also followed a similar pattern. Out of the $649.61 million traded across all launchpads yesterday, Pump.fun alone saw $542.17 million run through it.
In total, there were 37,966 tokens that were launched on Pump.fun on the day and 127 of them crossed $1 million in market cap, which is roughly one in every 300.
Robinhood Chain Shows Up, Solana Still Carries Everything
The competitive picture is stark when we look at the numbers. Flap saw $6,541 in revenue for the day, which was second on the list after Pump.fun. Raydium’s launchpad managed $5,122 and BONKfun, which was seen as a major challenger especially around July last year, brought in $3,495.
Robinhood Chain has entered the mix and it is definitely worth paying close attention to. Launchpads on the chain did $28.39 million in volume or about 4% of the daily total. This is commendable given that it’s been only little over a month since the chain launched. However, Solana remains the leader here by a long shot. The network carried $546.35 million of the day’s launchpad volume against BNB Chain’s $74.87 million and almost every dollar on the Solana figure can be traced back to a single platform.
The launchpad sector has now been around for over two years and within this timeframe new chains and new projects have come up. The fact is, current data shows that money has consolidated back into one venue.
Where the Volume Actually Came From
None of this happened passively. The turnaround started in late July, when memecoin pairs climbed back to 29% of Solana’s spot DEX volume, the highest share since August 2025, and Pump.fun was the main venue absorbing that activity. What followed was a run of product and incentive changes.
Pump.fun shipped a social trading upgrade on August 7 that added callout alerts, zero-fee trades and cross-chain USDC swaps, pushing the product closer to a trading terminal than a token factory.
The user acquisition has also been aggressive. FOMO is a rival Solana trading platform, and Pump.fun went straight after its users with a $20,000 sign-on bonus, along with $30,000 a month to switch platforms outright. Paying for order flow is not new in crypto, but the size of the numbers relative to sector revenue is notable. Pump.fun spent close to the entire monthly revenue of its competitors just to poach their users.
On the token side, the buyback program has kept running. Half of platform revenue continues to be routed into purchasing PUMP, with $3.73 million bought back in a single week. BOOST, which recycles migration liquidity back into new launches, has been pushed as the default launch mechanism rather than an option buried in settings.
Each of these on its own is incremental. Stacked together over several weeks, they explain why the volume gap widened rather than closed.
98% of a Much Smaller Market
The dominance figure needs context to mean anything. At $1.14 million a day, total launchpad sector revenue is a fraction of what it was during the memecoin peaks of 2024 and early 2025, when the category regularly printed $4 million to $5.6 million days.
Pump.fun’s revenue today is not far off what the whole sector was doing on an average day 18 months ago. Its 98% share reflects competitors falling away as much as it reflects growth. The category shrank, and one platform absorbed most of what remained.
That distinction matters for anyone reading the number as a signal on retail appetite. Concentration is not the same as recovery. Token launches are still happening at scale, with nearly 38,000 in a day, but the revenue those launches generate has compressed hard.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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