The Bitcoin (BTC) bullish delay, amid ongoing Ethereum (ETH) pump, has increased the odds of a memecoin season, led by Solana-based memecoins that have been launched through the letsBONK.fun platform. According to market aggregate data from coingecko, top Solana memes gained 10% in the past 24 hours, led by Pudgy Penguins (PENGU).
The top Pump.fun memecoins by market cap gained 11% to hover about $4.9 billion. Meanwhile, the top LetsBONK.fun Memecoins by market cap surged by 45% to hover around $657 million at the time of this writing.
The speculative demand for the memecoins launched through letsBONK.fun stems from the palpable success of the Pump.fun platform. As Coinpedia previously reported, the Pump.fun team raised $500 million in 12 minutes through its $PUMP’s Initial Coin Offering (ICO).
As a result, more crypto investors have been betting on the success of LetsBONK.fun, which is backed by the largest memecoin on the Solana network dubbed Bonk (BONK). Furthermore, the LetsBONK.fun platform has reputable developers and investors backings in addition to a higher rate of token graduation.
In the past 24 hours, LetsBONK.fun platform recorded a revenue of about $1.97 million while Pump.fun registered around $429 million.
The Useless Coin (USELESS) gained 23% in the past 24 hours to trade about 33 cents on Tuesday July 22 during the late-North American session. The small-cap altcoin, with a fully diluted valuation of about $333 million and a 24-hour average trading volume of around $43 million, signaled a rally to a new all-time high (ATH) soon.
Furthermore, the Useless Coin team announced the memecoin will be available on BNB chain and Solana interchangeably through the Chainlink (LINK) network.
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