Where cryptocurrencies are born: an overview of the main token launchpads

The launch of incubator platforms led to a sharp increase in the issuance of new tokens across blockchains such as Solana, BNB Smart Chain, and TRON. Initially, it was forecasted that the average number of tokens issued would be around 5,200 per day.

However, the launch of platforms like Pump.fun on Solana and Four.meme on BNB Smart Chain drove the daily issuance of tokens to 400,000 by the end of 2024.

1. Pump.fun (Solana)

Launched in January 2024, Pump.fun became the first platform for issuing SPL tokens (the token standard on the Solana blockchain). Within the first six months after launch, over 100,000 new tokens were created on Pump.fun, and the platform's transaction volume exceeded $11.3 billion — 450% higher than competitors.

However, according to Token Sniffer analysis, less than 0.3% of all tokens issued on Pump.fun "survive" for more than a week. Still, some of these tokens not only survived but also entered the top of the crypto market by capitalization. Notable meme tokens issued on Pump.fun include:

• Bonk (BONK) — $1.7 billion market cap, among the top five meme coins
• Pump.fun (PUMP) — $1 billion, in the top 100 cryptocurrencies
• Fartcoin (FARTCOIN) — $876 million
• Peanut the Squirrel (PNUT) — $218 million, in the top 200 crypto assets
• Moo Deng (MOODENG) — $145 million

As of August 2025, Pump.fun continues to lead in the Solana ecosystem both in terms of daily active addresses (ranging from 80,000 to 120,000) and the number of tokens issued per day, which exceeds 24,000.

2. Moonshot (Solana)

Moonshot, launched in June 2024, became the second token launch platform in the Solana ecosystem after Pump.fun. However, it has not come close to matching the success of the pioneer.

As of August 2025, the platform issues only 300–400 tokens per day, which keeps it outside the top five launchpads on the Solana blockchain.

At its peak in 2024, Moonshot had just over 12,000 daily active addresses — 6 to 10 times fewer than Pump.fun. By August 2025, the platform had only 2,000–3,000 active addresses per day.

Nevertheless, Moonshot distinguished itself by producing a relatively high number of well-known tokens, including meme coins. Among them:

• OFFICIAL TRUMP (TRUMP) — $1.7 billion market cap, 55th on CoinMarketCap (CMC)
• Jupiter (JUP) — $1.5 billion, 60th on CMC
• Popcat (SOL) (POPCAT) — $272 million, top 200 cryptocurrencies
• cat in a dogs world (MEW) — $256 million, top 200 cryptocurrencies

Moonshot's peak trading volume reached $4 billion in February 2025 after the launch of the TRUMP meme token.

3. Four.meme (BNB Smart Chain)

In response to the popularity of Pump.fun on Solana, the BNB Smart Chain (BSC) ecosystem launched Four.meme in July 2024.

Although Four.meme never achieved the same hype as Pump.fun, it significantly boosted activity on BSC. According to Token Terminal, as of August 2025, BNB Chain leads all blockchains in daily active users.

However, high network activity did not help Four.meme comes close to Pump.fun's success. Its peak daily trading volume reached only $8 million. Overall, nearly 270,000 new tokens have been issued on Four.meme, with the most notable being:

• BUILDOn (B) — $542 million market cap
• Mubarak (MUBARAK) — $32 million
• CZ's Dog (BROCCOLI) — $24 million

4. SunPump (TRON)

TRON followed Solana and BNB Smart Chain, launching its own token issuance platform, SunPump, in July 2024, with daily trading volumes exceeding $22 million.

Although SunPump became as popular as the Four.meme, it cannot boast a large number of tokens issued — only slightly more than 100,000 in total.

Some notable tokens were launched on SunPump, but none made it into the top 500 of the crypto market.

5. LetsBonk.fun (Solana)

LetsBonk.fun is the newest token launch platform, launched in April 2025. Despite its youth, by July the platform had already surpassed Pump.fun in the number of tokens issued per day, peaking at over 24,000 according to Dune Analytics.

For comparison, Pump.fun issued only about 10,000 tokens per day at that time.

At its July peak, LetsBonk.fun captured more than half of the market share among platforms in the Solana ecosystem. However, in early August, activity plummeted to 3,000–4,000 tokens issued daily. In trading volume, LetsBonk.fun lags more than 60 times behind Pump.fun — $2.6 million versus nearly $175 million.

The only meme token launched on LetsBonk.fun to make it into the top 200 on CoinMarketCap was Useless Coin (USELESS) with a market cap of nearly $225 million.