Recent trends in Solana’s memecoin landscape reveal that BONK (BONK) is making significant strides, now accounting for 20% of the entire $54 billion memecoin market. This amounts to about $11 billion in total value. While Pump.fun enjoyed initial explosive popularity, BONK is steadily establishing itself as a key player in this space.
Pump.fun launched in January 2024 and quickly became a major name, generating $368 million in revenue within its first year. Most of this was correlated with its unique bonding system, requiring users to lock up SOL to mint new tokens. However, recent data shows a drop in Pump.fun’s daily volume from an average of $400 million to around $150 million.
In contrast, BONK is capturing more of the action. BONK-linked platforms recently surpassed Pump.fun by securing 53.2% of daily bonded SOL activity. This shift indicates that traders might be looking for stability in the form of BONK, hinting at a possible maturation of Solana’s memecoin ecosystem.
To measure BONK’s health, the Total Value Locked (TVL) in its ecosystem provides key insights. Data from DeFiLlama indicates that as of July 6, 2025, the TVL in Bonk Staked SOL had climbed to $11.98 million, up from $8 million just two months earlier—an impressive 50% increase. Unlike the fleeting excitement often associated with memecoins, this situation shows actual commitment from traders who are willing to lock in their funds long-term.
This trend of converting hype into structured growth isn’t isolated to just one platform. It suggests a broader change in the way traders are approaching memecoins on Solana. As they seek more stable investments, BONK could soon emerge as a leader in this sector. If current trends hold, it may shape the future of Solana’s memecoin economy in the coming months.
As the landscape of memecoins continues to evolve, the rise of BONK signifies a shift in investor sentiment, leaning towards platforms that provide sustainable value rather than just short-term excitement. Keep an eye on how these dynamics unfold, as they could reshape the memecoin market as we know it.
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