Solana-based memecoin launchpad Pump.fun has acquired the Padre trading terminal in a strategic move to bolster token liquidity as the memecoin market cools from its 2024 highs. The acquisition, announced on X, comes without disclosed financial details but highlights Pump.fun’s commitment to enhancing trading volumes through improved user experience, cashback rewards, competitive fees, and dedicated trader support.
Padre, a multichain trading terminal primarily focused on memecoins, supports trading across Ethereum, Solana, BNB Chain, and Base. Pump.fun currently holds roughly 44% of the Solana memecoin launchpad market share, down from a peak of about 75%, according to Jupiter data.
This acquisition arrives amid a significant slowdown in the memecoin sector, with Pump.fun’s monthly revenue dipping below $25 million in July — an 80% decrease from its January peak — and the overall memecoin market capitalization dropping over 21% in the last 30 days, impacted heavily by the October 10 market crash and subsequent liquidation events.
Despite these challenges, Pump.fun’s acquisition of Padre positions the platform to maintain and potentially grow its leadership in the evolving memecoin space.
Read more: https://cointelegraph.com/news/pumpfun-acquires-padre-trading-terminal-solana-memecoins