Who can compete against pump.fun?

A Blockworks Research report looked at who could take up some of the marketshare in the launchpad space

article-image

s_maria/CryptoFX/Shutterstock and Adobe modified by Blockworks

share

This is a segment from the Empire newsletter. To read full editions, subscribe.


We’re so back when it comes to launchpads.

Remember how many folks thought memecoins and things like pump.fun were on the downtrend earlier this year?

How young and naive we all were. Or maybe it’s the opposite. 

Anyway, my point is that launchpads are still having a moment, with the most obvious leader being pump.fun. In our previous conversations with Blockworks Research on the subject of memecoins, the team reiterated how bullish they are on the segment. 

In a report earlier this week, our Research team looked at pump.fun’s dominance in a growing pool. 

Look at those volumes go. 

So far, pump.fun’s managed to really corner its market. There have been competitors (remember Tron’s attempt, for example?), but none of them has really managed to stick. 

“The core problem was structural: without instantly recognizable standards and an engaged speculator base (and their capital), these clones offered little more than a lower-fidelity imitation of the original experience,” Research analyst Danny K. wrote. 

But analysts say that it’s still early days for this market, which means we could see more serious competitors to pump.fun down the line. 

“The winners will be those who either defend the core memecoin market or successfully create and grow entirely new categories rather than offering ‘pump.fun but slightly different,’” the report said. 
Raydium is a clear competitor, but they also note that Meteora “has had quiet success” in some of the same pools, from getting big launch partners (Trump and Melania Trump) to also offering infrastructure.

Between that and their relationship with Jupiter, Blockworks Research said that they “ultimately view them as another major contender in this battle.”


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates.png

Research

Pipe Network is a decentralized content delivery network (dCDN) that replaces the sparse, capital intensive data center footprint of traditional CDNs with a permissionless mesh of independent node operators. By orchestrating under-utilized resources that already exist at the edge, rather than purchasing or leasing thousands of servers, Pipe slashes capital intensity while letting supply expand autonomously in the places where bandwidth is scarcest and most expensive.

article-image

Fiscal dominance isn’t about interest rates and it isn’t about Trump, either

article-image

Firestarter Storage brings decentralized storage and delivery to Solana

article-image

After lengthy closing arguments on Wednesday, the case is now in the hands of 12 jurors

article-image

Analysts cite weak trading volume and regulatory progress as factors

article-image

Builders weigh in on Ethereum’s first decade and the decisions that will define its next one

article-image

Closing arguments set to kick off Wednesday after Tuesday’s testimony from two expert witnesses and an a16z partner