Bots Dominate Token Launches on Pump.fun and LetsBonk
Coinbase Head of Product Conor Grogan reports that automated bots likely generate most tokens on memecoin platforms Pump.fun and LetsBonk. Data reveals top accounts launch new tokens every three minutes, raising concerns about market integrity.
The Scale of Automated Token Creation
- 13 wallets created 4,281 tokens in 24 hours
- Top accounts demonstrate unsustainable launch frequency
- Bot activity may distort market dynamics and user trust
LetsBonk Outperforms Rival Platform
The Solana-based LetsBonk platform generated $1.23 million in daily revenue, more than double Pump.fun‘s $520,400. LetsBonk also deployed over 22,000 tokens compared to Pump.fun’s 9,800.
Memecoin Market Shows Decline
Total memecoin market value fell 2.6% to $54.7 billion, continuing a downward trend from December’s peak of $127.3 billion.
Expert Perspective
“Bot-driven token creation undermines market fairness,” Grogan stated. “Platforms need improved safeguards to maintain integrity.”
