PumpFun logo with coin. Pump.Fun. Source: cryptoFX - stock.adobe.com

Key Takeaways:

Coinbase’s Conor Grogan revealed that bots are driving the majority of token launches on Pump.fun and LetsBonk, with some wallets launching tokens every 3 minutes.
LetsBonk outperformed Pump.fun in daily revenue and activity, with $1.23M in revenue and over 22,000 token launches in 24 hours.
Despite rising platform usage, only 37 tokens have moved to decentralized exchanges, as the memecoin market continues its decline.

Most memecoins launched on platforms like Pump.fun and LetsBonk are driven by automated bots, according to Coinbase’s head of product, Conor Grogan.

He shared data revealing that 13 wallets were responsible for over 4,200 token launches on LetsBonk in just 24 hours, with some generating a new token every three minutes.

The great majority of tokens launched on PumpFun and LetsBonk are today run by bots; the below chart pulls new tokens launched on Letsbonk over the last 24 hours. The top accounts launch, on average, one new token every 3 minutes https://t.co/b5Inljc9z9 pic.twitter.com/S1GMqcrXkG
— Conor (@jconorgrogan) July 7, 2025

LetsBonk, launched in late April and built on Solana, has quickly outpaced Pump.fun in both usage and revenue, partly due to its integration with BONK token rewards.

Over the last day, LetsBonk generated $1.23 million in revenue and hosted more than 22,000 token launches, compared to Pump.fun’s $520,400 and 9,800 launches.

Despite the high volume, only 37 tokens have “graduated” to decentralized exchanges, showing minimal long-term value.

The wallet “BwaV” had the most successful launches, with 30 graduated tokens.

However, this activity contrasts with the overall market decline.

The memecoin market cap dropped 2.6% in the past day to $54.7 billion, continuing its fall from the $127.3 billion peak in December 2023.