Solana-based memecoin launchpad Pump.fun has acquired Padre trading terminal for an undisclosed sum, signaling the network’s continued expansion into a sector that has cooled significantly since the peak of the boom in 2024.
Pump.fun announced the acquisition of Company X on Friday, but did not disclose financial details. The company noted that the move is aimed at strengthening the liquidity of tokens on the platform, and that the trading terminal is key to driving increased trading volumes.
Pump.fun explained that Padre offers a strong user experience, cashback benefits, competitive fees, and dedicated trader support.
Although Padre is a multi-chain trading terminal, it is primarily positioned as a memecoin trading platform. We support trading across Ethereum, Solana, BNB Chain, and Base.
According to Jupiter data, Pump.fun remains the largest launchpad for meme coins on Solana, accounting for about 44% of the market share. However, this number is down from its peak of about 75%.
Related: Pump.fun spends more than $62 million on share buybacks to boost PUMP price
The popularity of meme coins is waning
The acquisition comes as Pump.fun works to maintain its dominance in the meme coin market, which has cooled significantly from its peak in 2024 to early 2025. As Cointelegraph recently reported, the platform’s monthly revenue fell below $25 million in July, down 80% from its peak in January.
Revenues recovered slightly in August and September, but remain well below their end-2024 levels, according to DefiLlama data.
Meanwhile, the overall market capitalization of meme coins has fallen by more than 21% in the past 30 days, according to data from CoinMarketCap. The sector was particularly hard hit by the October 10th market crash that caused historic liquidations of leveraged positions across the crypto sector.
Related: Elon Musk posts his dog Floki on X. meme coin pump 29%
