PUMP.FUN'S SHARE OF LAUNCHPAD FEES FELL TO 27% IN JULY

Summary from the TLDR Crypto newsletter

Pump.fun's launchpad market share dropped from 79.4% in late June to 26.7% in mid-July as Robinhood Chain competitors launched, then recovered to 51.7% by early August. Absolute fee revenue grew 30% between the two 30-day windows, from $24.45M to $31.83M, though the broader launchpad category expanded 77% to $75.39M, meaning Pump.fun underperformed category growth on a relative basis. On Robinhood Chain, Pons generated $19.80M in fees within 30 days to rank second across all launchpads. NOXA peaked at $2.33M in daily fees before disabling new launches due to bot activity, while Uniswap Pools' zero-fee model drew only $806K total despite launching August 5. The volume surge has not translated into memecoin appreciation: the sector sits at $25.15B, 83% below its December 2024 peak of $150.6B, with only 34% of 5,774 tracked tokens gaining value over 30 days and the median token down 99% from its all-time high.