Crypto Exchange Coinbase executives say automated robots are probably behind most of the tokens launched on Memecoin Creation Tools pump.fun and Letsbonk.
“The vast majority of tokens launched on Pumpfun and Letsbonk are today operated by robots,” head of Coinbase Products Conor Grogan Posted Monday to X.
He shared a chart with the data showing that Letsbonk’s top account issued an average of “one new mark every 3 minutes” on the last day.
Letsbonk is a solvent-based Token creation The platform was launched as a competitor in late April. pump.fun has not started yet.
More than a dozen wallets initiated thousands of adults
Grogan’s chart shows that the 13 wallets have fired 4,281 tokens on a total of 4,281 tokens over the past 24 hours.
data Analysis on the dunes shows that the top token creators of all time on the platform have launched 4,669 tokens.
The second largest token creator has launched less than 2,400 tokens, but has been the top creator wallet in the past 24 hours, with nearly 500 tokens rolling out in one day.
The number of tokens in the first two accounts of the so-called “graduation” is only 37, while the “BWAV” wallet has 30 graduation tokens, the most of the accounts created by the top 25 tokens.
A graduation token is when the newly launched Memecoin sees enough trading volume to “graduate” from a platform like Letsbonk and list it on a decentralized exchange and expose it to a larger audience.
Let the Sbonk surpass the pump
Letsbonk beat Pump And among the number of tokens deployed in the past 24 hours.
defill show This has generated $1.23 million in revenue over the past day, almost twice the pump.
Dune said Letsbonk also beat the pump. data.
Memecoin market share continues to decline
However, as traders continue to shift their focus to the highly speculative sector, Memecoins’ total market value continues to decline on the last day.
Memecoins’ market cap fell 2.6% to $54.7 billion on the last day, according to Carry out a common market.
The sector’s peak has continued to decline since its peak value of $127.3 billion in December, which is the pump.
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