Bonk.fun Takes 55% of Solana Token Issuance Market
PANews reported on July 8 that according to the latest data, Bonk.fun has surpassed Pump.fun to become the leading token issuance platform in the Solana ecosystem, with a market share of 55.2%. Since Pump.fun went online in January 2024, the platform has dominated the market for two years, with a cumulative transaction volume of more than 8 million US dollars. However, Bonk.fun surpassed Pump.fun in just two months with a deeper incentive mechanism and rapid user growth.
Bonk.fun's unique fee structure has become the key to its rapid rise. 58% of the platform's revenue is used to purchase and destroy BONK tokens, of which 50% is used for direct destruction and 8% is used as a reserve. According to statistics, Bonk.fun's average daily trading volume exceeds US$1 million, and the average daily purchase and destruction amount of BONK is US$500,000.
So far, Bonk.fun has completed 175,000 token issuances, with a total transaction volume of $540 million and approximately $34 million in fees, far exceeding Pump.fun's $341 million transaction volume and 34.9% market share. In addition, the USELESS token issued by Bonk.fun has quickly become popular, with a market value of over $100 million.
If Bonk.fun maintains its current growth rate, the annualized BONK token purchase amount is expected to reach hundreds of millions of dollars, further tightening the market supply. At the same time, other Solana ecosystem issuance platforms, such as Believe, Jup Studio, and Moonshot, have market shares of 3.8%, 2.1%, and 1.7%, respectively, which is significantly different from Bonk.fun's performance.
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