Bots Launch Majority Of Tokens On Pump.fun, LetsBonk
Summary
Automated bots are responsible for most tokens launched on memecoin creation tools Pump.fun and LetsBonk, according to Coinbase's Conor Grogan. Data indicates that top accounts on LetsBonk launched an average of one new token every three minutes. LetsBonk, a Solana-based platform, has quickly gained popularity, generating $1.23 million in revenue in one day, nearly double that of Pump.fun's $520,400. Over the past 24 hours, 13 wallets on LetsBonk launched 4,281 tokens, while the platform has seen over 22,000 tokens launched compared to Pump.fun's 9,800. Despite this activity, the total market value of memecoins has decreased by 2.6% to $54.7 billion, continuing a decline from a peak of $127.3 billion in December.
