The Memecoin sector added a token valuation of about $17 billion since the beginning of July, surged to $72 billion as of Thursday, up 29% from its market capitalization of $55 billion on June 30.
CoinMarketCap data shows July has greater memokine trading volume than the previous month, with the sector’s 24-hour trading volume peaking at over $18 billion on Thursday. The second-highest trading volume in the last 30 days was $170.9 billion on Saturday.
Many of the top memokines, such as Dogecoin (Doge), Shiba Inu (Shib), and Pepe (Pepe), have shown significant growth over the past seven days.
Still, the biggest winner of the week was Floki, showing a 58% gain and a 45% increase in bonk (bonk), a pudgy penguin token, with the biggest gain of 72%.
Letsbonk Doubles Pump.fun 7 Days Revenue
Bonk’s explosive growth could be attributed to the traction gained by the Bonk-backed Solana Memecoin Launchpad called Letsbonk.
On July 7th, Letsbonk surpassed Solana’s Memecoin Launchpad Pump.fun by 24 hours a day, shaking the LaunchPad rankings on the network.
Recent Defillama data shows Letsbonk has surpassed Pump.Fun’s $4.91 million, earning $8.25 million in protocol revenue over the past seven days.
Data from the distributed Exchange (DEX) aggregator Jupiter shows that Letsbonk’s market share is 51.9% and Pump.Fun’s market share is 39.5% over the past 24 hours. It also shows that Launchpad’s volume reached $838 million, beating Pump.Fun’s $638 million.
Letsbonk has gained traction, but Pump.Fun remains dominant in other respects. Defillama’s data shows that the MemeCoin platform remains the top launchpad of 30-day protocol revenue, earning nearly $29 million.
Meanwhile, Jupiter’s data also shows that Pump.Fun remains dominant from a 24-hour trader’s perspective.
The platform recorded 413,000 traders and 275,000 on Letsbonk. Pump.Fun’s liquidity was nearly ten times higher than Letsbonk, reaching $510 million, while Letsbonk was $53 million.
Related: Trump Meme Coin to be locked in the “Crypto Week” votes
Ethereum surges will flow to Memecoin
Solana-based activity has affected the broader Memecoin Market overall surge, but it is possible that Ethereum’s recent highs may also contribute to Memecoin’s benefits.
At the time of writing, Ether (ETH) was trading for over $3,400, surged more than 22% last week.
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