Solana Showdown: Raydium’s LaunchLab Set to Challenge Pump.fun’s Reign

• Raydium announces its own meme coin launchpad, LaunchLab, on the Solana chain
• LaunchLab aims to directly challenge Pump.fun’s position in the Solana meme coin market
• Pump.fun recently launched its own DEX, PumpSwap, as competition intensifies

Raydium, the well-established decentralized exchange (DEX) on the Solana blockchain, is set to directly compete with the meme coin launchpad Pump.fun by launching its own platform called LaunchLab. 

This announcement comes just days after Pump.fun, which recently launched its own DEX, PumpSwap, is facing a revenue dip and increased competition in the Solana ecosystem.

Pump.fun has been having mixed success lately. While it attracted millions of users and generated over $600 million in revenue, most of the 8.7 million tokens created have lost value. 

Only four have maintained a market capitalization above $100 million. In response to a nearly 60% drop in monthly revenue, is why Pump.fun had launched PumpSwap.

In just 3 months;

A total of 8.7 million “memecoins” were launched on @pumpdotfun, generating a total revenue of $600M

Out of those 8.7M coins, only 4 managed to sustain a market cap level of $100M pic.tw…

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