May 1, 05:08 PM

Solana Memecoin Launchpads Surge, Raydium's LaunchLab Hits $100M Volume, Bonkfun Reaches 45M Market Cap

The competition among memecoin launchpads on the Solana blockchain is intensifying, with platforms like Raydium's LaunchLab and Bonk's iteration seeing significant trading volumes. LaunchLab has reported volumes over $100 million, while Bonk's platform has experienced rapid success due to a strong wealth effect. This surge in activity comes as the memecoin sector stages a comeback, challenging the dominance of established platforms like PumpFun. The market is witnessing a proliferation of new launchpads on the Solana chain, each vying to be the next big success story, with some achieving high market valuations shortly after launch, such as a peak of 45M market cap for Bonkfun's top project and 20M for LaunchCoin's, with an average of 4-5M market cap for others.