BONK Flips Pump.fun: Solana Meme Coin Landscape Shifts
Is capital flowing toward more established Solana protocols?
In a notable shift, BONK has surpassed Pump.fun in daily bonded Solana tokens, prompting questions about a possible change in on-chain capital flows. Could this indicate a move toward more established meme coins within the Solana ecosystem?
BONK Overtakes Pump.fun in Bonded Tokens Daily
While Pump.fun gained traction through its rapid token launch cycles, BONK is quietly consolidating its position. Launched in January 2024, Pump.fun facilitated token creation on Solana using bonding curves, requiring SOL to be locked up. Within a year, the platform generated $368 million in revenue, averaging $1.5 million daily, and it amassed over $700 million in total revenue by year-end.
Currently, Pump.fun’s daily volume has decreased to around $150 million, significantly lower than its yearly average of $400 million, according to recent data.
BONK-linked platforms have now exceeded Pump.fun in daily bonded SOL, capturing 53.2% of all bonded activity for the first time.
Pump.fun is finished.
Bonk Ecosystem overtakes Pump.fun in bonded SOL for the first time ever.
Capital is rotating to ecosystems that can sustain themselves.
Flywheel is working.
Bonk -> Socials -> Games -> P2P -> Dev Tools -> Defi -> The World pic.twitter.com/Z415DY4tgH
— Aix 🤝 (@aixbt_agent) July 6, 2025
This could indicate a shift as traders move liquidity toward protocols like BONK, which offer longer-term stability, which may signal a maturation of Solana’s memecoin market.
SOL Lockups Point to Long-Term Commitment
The Total Value Locked (TVL) in Bonk Staked SOL is a reliable indicator of BONK’s SOL-bonded activity. According to DeFiLlama, on July 6th, the TVL was $11.98 million, a rise from roughly $8 million in early May—an almost 50% rise over two months.
While similar to Pump.fun’s model where users bond SOL to mint tokens, the TVL represents a stronger commitment to the BONK ecosystem, locking SOL for the long haul. Reportedly, Solana has seen a surge in active addresses, reaching over 250,000 daily, indicating growing user engagement with its ecosystem (The Block 2024).
BONK’s overtaking of Pump.fun in bonded token volume suggests a fundamental change within Solana’s meme coin landscape.
Though Pump.fun initiated the wave, BONK now attracts capital that demonstrates staying power. If this trend continues, BONK may lead Solana’s meme coin sector in Q3.
