[#title_feedzy_rewrite]
The Believe ecosystem is rapidly gaining traction, siphoning market share from pump.fun as Solana memecoin launchpad landscape heats up, with validator tips soaring and new platforms reshaping the competitive dynamics.
ICM Surge Fuels Capital Inflow to Believe
The Solana SOL memecoin launchpad space is witnessing a seismic shift as the Believe ecosystem emerges as a formidable challenger to pump.fun, the long-standing leader.
Validator tips on Solana’s Jito network surged 57% to $3.63 million daily in mid-May 2025, signaling heightened on-chain activity. However, this surge has not equally benefited all platforms, with pump.fun experiencing a 27.5% week-over-week fee decline from $18.2 million to $13.2 million between May 5 and May 17. This drop is attributed to the rapid rise of Believe, which is siphoning activity by offering a differentiated value proposition focused on startup and utility-focused token launches, unlike pump.fun’s memecoin-centric model.
Pump(.)fun feels the pressure.
They’re tweaking creator rewards – for a reason. Competitors are gaining ground fast.Yesterday:
37.8K tokens launched
Believe’s tokens alone:
– 670K+ txns
– $7M+ in fees
– $3.5M paid… pic.twitter.com/p4ibIh5YG6— DyslexBoy (@dyslexboy) May 14, 2025
Believe’s market share in token launches reached 12.9% in mid-May 2025, with 4,900 tokens created in a single day, compared to pump.fun’s 57% (21,700 tokens) and LetsBONK’s 18% (6,800 tokens).
Source: CryptoRank
The platform’s total token market capitalization surged from $1.5 million to over $200 million in a month, driven by high-profile tokens like LAUNCHCOIN. Believe’s bonding curve design, which limits early token supply and discourages speculative sniping, has attracted developers seeking fairer launches.
By leveraging SocialFi mechanisms, Internet Capital Market (ICM) allows users to convert tweets, posts, or digital engagement into tokens that can be traded, effectively creating decentralized markets for social capital. Its popularity in 2025 stems from the explosive growth of memecoin launchpads and the democratization of fundraising, with over 200,000 daily Solana addresses engaging in ICM-related activities.
Believe, a key player in this space, capitalizes on ICM’s rise with its tweet-to-token model, generating $7.04 million in weekly fees by enabling users to create tokens via social media interactions. This synergy with ICM’s framework positions Believe as a leading platform, driving significant capital inflows as it captures the growing interest in social-driven token economies.
Pump.fun Faces Pressure but Remains Resilient
Despite Believe’s aggressive rise, pump.fun remains a dominant force in the memecoin launchpad space, thanks to its user-friendly design and established user base.
Pump.fun’s removal of token creation fees in August 2024, shifting costs to the first buyer, has kept it accessible, with a 0.5 SOL ($80) reward for developers of successful tokens. This model has fueled its growth, with 37.8K tokens launched in a single day in mid-May 2025, though competitors like Believe and LetsBONK captured nearly 50% of token deployments and 60% of graduated tokens at their peak.
Pump Fun is finally starting to see some market share taken in the Memecoin space
With LetsBonk, the Believe app and LaunchLabs making a big splash
At peak last week, the competitors took:
– Nearly 50% of tokens deployed
– Nearly 60% of graduated tokens
– 33% of daily active… pic.twitter.com/WEIxJNaP4h— TylerD
(@Tyler_Did_It) May 19, 2025
Pump.fun’s resilience is evident in its ability to adapt, as seen in recent tweaks to creator rewards in response to competitive pressures. However, Believe’s innovative approach, including its focus on non-memecoin projects and viral marketing, is eroding Pump.fun’s market share.
Source: Blockworks Research
Believe’s success lies in offering a distinct product rather than merely copying Pump.fun’s model, a strategy that has allowed it to capture significant attention and trading volume. The competitive landscape is further complicated by other platforms like BoopFun and LaunchLabs, which are also vying for market share, intensifying the race for dominance in Solana’s launchpad ecosystem.
This rivalry is driving innovation across the sector, with platforms experimenting with new features like trading bots and airdrops to attract users. While Believe’s rapid ascent poses a threat, Pump.fun’s established infrastructure and community loyalty ensure it remains a formidable player. The ongoing battle highlights Solana’s vibrant ecosystem, where competition is fostering growth and pushing platforms to evolve.
The post Solana Memecoin War Heats Up with Pump.fun and Believe Rivalry appeared first on NFT Evening.