The post Raydium Enters Solana Meme Coin Fight appeared on BitcoinEthereumNews.com.

Raydium announces its own meme coin launchpad, LaunchLab, on the Solana chain LaunchLab aims to directly challenge Pump.fun’s position in the Solana meme coin market Pump.fun recently launched its own DEX, PumpSwap, as competition intensifies Raydium, the well-established decentralized exchange (DEX) on the Solana blockchain, is set to directly compete with the meme coin launchpad Pump.fun by launching its own platform called LaunchLab.  This announcement comes just days after Pump.fun, which recently launched its own DEX, PumpSwap, is facing a revenue dip and increased competition in the Solana ecosystem. Pump.fun has been having mixed success lately. While it attracted millions of users and generated over $600 million in revenue, most of the 8.7 million tokens created have lost value.  Only four have maintained a market capitalization above $100 million. In response to a nearly 60% drop in monthly revenue, is why Pump.fun had launched PumpSwap. In just 3 months; A total of 8.7 million “memecoins” were launched on @pumpdotfun, generating a total revenue of $600M Out of those 8.7M coins, only 4 managed to sustain a market cap level of $100M pic.twitter.com/bbhsIFo38Z — LANGERIUS (@langeriuseth) March 21, 2025 Pump.fun Performance Since its debut in January 2024, Pump.fun has attracted a large number of users eager to easily create their own meme coins. The platform allows anyone with a Solana wallet to generate tokens without needing any coding skills. While Pump.fun has generated over $600 million in revenue, the majority of the tokens created have either lost their value or completely disappeared from the market. Currently, only four tokens from the initial launch have a market cap exceeding $100 million, highlighting the inherent volatility within the meme coin market. Why Did Pump.fun Introduce PumpSwap? To address the recent drop in revenue, Pump.fun launched PumpSwap, a native decentralized exchange built directly on…

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Filed under: News - @ March 22, 2025 1:22 pm