There has been a noticeable surge in memecoin activity over the past couple of weeks, and it becomes evident when we look at the metrics from launchpads. In fact, Blockworks data shows that over 587,000 tokens were created on launchpads last week, the highest number of tokens launched in a single week. Yet, one launchpad has been grabbing all the attention lately and showing the highest metrics.
On August 9, Pump.fun earned $1,118,478. At the same time, all other launchpads combined earned $22,642. Thus, the Solana-based platform took 98% of the $1,141,120 earned by the entire category that day. This makes the market situation the most unbalanced since April 2025, when there were far fewer projects.
Source: Blockworks
Pump.fun's daily revenue of $1.1 million also marked an unprecedented figure since March, completing a recovery that had been brewing for several weeks. Trading volume followed a similar trend. Of the $649.61 million sold across all platforms yesterday, $542.17 million passed through Pump.fun.
In total, 37,966 tokens were launched on the Pump.fun platform that day, and 127 of them surpassed a market capitalization of $1 million, roughly one in every 300.
Robinhood Chain Emerges, Solana Still Sells All the Goods
Looking at the numbers, the competition appears quite stark. Flap earned $6,541 for the day, ranking second after Pump.fun. The Raydium launch brought in $5,122, while BONKfun, which was considered a serious competitor, especially in July of last year, earned $3,495.
The Robinhood Chain network has entered the game and is worth watching closely. Trading volume on platforms of this network amounted to $28.39 million, or about 4% of the total daily volume. This is commendable, given that the network launched just over a month ago. However, Solana still leads by a wide margin. This network accounted for $546.35 million of the total daily platform trading volume, compared to $74.87 million for BNB Chain, and nearly every Solana-related dollar can be traced back to one specific platform.
The launchpad sector has existed for over two years now, and during this time, new networks and new projects have emerged. In fact, current data shows that money has once again concentrated in one place.
Where This Volume Really Came From
None of this happened passively. The turnaround began in late July when memecoin pairs once again reached 29% of Solana's spot DEX trading volume, the highest level since August 2025, and Pump.fun became the primary platform absorbing this activity. This was followed by a series of product and incentive changes.
On August 7, Pump.fun released a social trading update that added trade callouts, commission-free trading, and cross-chain swaps with $USDC, moving the product closer to a trading terminal than a token factory.
Social Trading in the Pumpfun App just got leveled up!
— Pump.fun (@Pumpfun) August 7, 2026
– Callout tokens, alerting EVERY subscriber
– Commission-Free Trading
– Seamless Cross-Chain Trading with $USDC.
Grow your followers right now 👇 pic.twitter.com/lZGWozPCEY
User acquisition was also aggressive. FOMO is a competing Solana trading platform, and Pump.fun immediately offered its users a $20,000 sign-up bonus, plus $30,000 per month for switching platforms. Payment for order flow is not new in crypto, but the scale of these payouts relative to the sector's revenue is impressive. Pump.fun spent nearly the entire monthly revenue of its competitors just on poaching their users.
As for tokens, the buyback program continues to operate. Half of the platform's revenue still goes towards buying PUMP, with $3.73 million worth of tokens bought back in one week. BOOST, which returns liquidity gained from migration to new launches, is being promoted as the default launch mechanism, not as an option hidden in settings.
Each of these factors is incremental on its own. Together, over several weeks, they explain why the volume gap has widened, not narrowed.
98% of a Much Smaller Market
Context is needed to understand the dominance metric. With daily revenue of $1.14 million, the total revenue of the launchpad sector is just a fraction of what it was during the peak of the memecoin craze in 2024 and early 2025, when this segment regularly generated between $4 and $5.6 million per day.
Pump.fun's revenue today is not vastly different from what happened on average per day across the industry 18 months ago. Its 98% share reflects both a shrinking number of competitors and growth. The category has shrunk, and one platform has absorbed most of the remaining market.
This distinction is important for anyone interpreting these numbers as a signal of interest from retail investors. Concentration is not the same as recovery. Token launches are still happening on a large scale, nearly 38,000 per day, but the revenue they generate has sharply declined.
end-content
