By Nancy, PANews After experiencing its darkest hour, on-chain liquidity has recently shown signs of recovery. Several leading Solana Launchpads have successively launched new products and features, expanding their growth potential through new narratives, attracting renewed market attention and ushering in a new round of competition. Pump.fun regains its top spot with multi-strategy efforts Pump.fun has regained market attention, with its price, revenue, trading volume and other data soaring. According to Coingecko data, the PUMP token has seen a 65.1% increase in price over the past 30 days, reaching a market capitalization of approximately $2.1 billion. Its FDV has climbed to $5.94 billion, exceeding its $4 billion valuation at the time of the public sale. This trend suggests that market confidence in Pump.fun is gradually recovering. Amidst the LaunchPad wars, Pump.fun's market share has rebounded. According to Jupiter data, Pump.fun's market share reached 81.2% in the last 24 hours, significantly widening the gap with competitors like Letsbonk and Believe. Previously, Pump.fun had been surpassed or even crushed by its competitors. Dune data shows that Pump.fun's weekly trading volume has rebounded from less than $150 million at the end of July to $1.1 billion, while daily revenue has surged from $161,000 in August to $1.575 million, bringing its cumulative revenue to over $830 million. DeFillama data shows that in the past 24 hours alone, Pump.fun generated approximately $2.57 million in revenue, ranking fourth behind Tether, Circle, and Hyperliquid. Pump.fun's current market recovery is due to the effective implementation of a multi-layered strategy. In mid-July, Pump.fun announced the launch of a buyback program. Official website data shows that Pump.fun has used over 457,000 SOL tokens to purchase PUMP tokens, valued at over $84.97 million, representing 6.158% of the total circulating supply. Over the past month, the ratio of Pump.fun's revenue to buyback expenditures has repeatedly exceeded 100%. This operation has effectively reduced the circulating supply and provided some support for the short-term token price. According to Token Unlocks data, the next unlock date for PUMP is July 2026, providing a window for the project to continue tightening market circulation. The following month, Pump.fun launched the Glass Full Foundation to inject liquidity into specific ecosystem tokens. Dune data shows that Pump.fun has invested over $1.694 billion in 10 MEME tokens listed on Pump.fun (such as House, Tokabu, Salary, and USDUC). This move has boosted investor confidence and boosted trading activity on the platform. In early September, Pump.fun, targeting the CCM (Creator Capital Market) market, launched Project Ascend, an update program that introduced a dynamic fee V1 update. Creator fees will be tiered based on market capitalization. This fee structure applies to all PumpSwap tokens (both new and existing). The Pump.fun protocol fee and the automatically compounded fees paid to liquidity providers (including burned LPs) remain the same. Dune data shows that over the past seven days, Pump.fun creators have earned over $16.266 million, far exceeding protocol revenue. Furthermore, the number of unique wallet addresses claiming these earnings has rebounded from 1,898 at the beginning of August to 9,065. While Pump.fun has achieved a phased recovery through strategies like token buybacks, liquidity injections, and creator incentives, it hasn't yet fully recovered to its historical peak. The co-founders of Pump.fun have even boldly predicted a return to the "trench rush" of Pump.fun in Q4 2024, with even higher gains. Unlike previous efforts, Pump.fun has shifted its strategic focus to CCM. Whether it can maintain sustainable vitality and growth remains to be seen. With its market share plummeting, BONK.fun is looking for new growth points. Unlike Pump.fun, which has seen a resurgence in popularity, BONK.fun's market share has experienced a rapid decline. Dune data shows that as of September 10th, BONK.fun's core metrics have all declined significantly. Daily token deployment has fallen from a high of 74.5% to 2.7%, daily token graduations have dropped from 88.8% to 1.2%, and trading volume has dropped from 86.4% to 3.2%. Clearly, BONK.fun has lost its market advantage. After experiencing a rapid decline in market share, BONK.fun has adopted various self-rescue measures. For one thing, BONK.fun continues to promote a token buyback and burn mechanism to maintain ecosystem stability. According to its official website, as of September 11th, BONK.fun had generated over 319,000 SOL, 35% of which was used to buy back and burn BONK tokens, further reinforcing its deflationary logic. Meanwhile, treasury strategies have injected new narratives into BONK. Nasdaq-listed company Safety Shot recently launched its BONK treasury strategy, raising $5 million in cash and $25 million in BONK tokens (funded by BONK's founding members). Meanwhile, BONK.fun is rapidly adjusting its direction, focusing on the ICM (internet capital market) sector. Recently, BONK.fun announced a partnership with WLFI, becoming the official launchpad for USD1 on Solana. Freya Protocol, an ICM protocol powered by USD1, will soon be available on BONK.fun. Furthermore, WLFI announced a partnership with BONK.fun to launch Project Wings, a program designed to provide promotional incentives to qualified participants who trade the USD1 trading pair on BONK.fun. Furthermore, BONK.fun also responded positively to Pump.fun's focus on live streaming, recently announcing its integration with Kick, allowing creators to live stream on Kick. Judging from BONK's price performance, these measures have also led to a short-term recovery in the price. Coingecko data shows that BONK has fallen approximately 6.1% over the past 30 days, but has rebounded 17.4% in the past week. However, whether BONK.fun can reverse its declining market share in the long term remains to be seen. It can achieve new heights in narrative innovation and community development. ICM's popularity drives attention, Believe V2 is about to be launched Believe was the first LaunchPad platform to propose the ICM narrative, and it once captured significant market share. However, with the decline in the value of its LAUNCHCOIN token, its popularity waned. Recently, as the ICM concept continues to gain popularity within the community, Believe has regained market attention. According to Coingecko data, LAUNCHCOIN has risen 38% over the past month and a whopping 70.4% over the past seven days. Regarding platform strategy, Believe founder Ben Pasternak recently revealed that the platform is building a flywheel mechanism centered around "investors → creators / platform → investors," and that the plan is currently approximately 80% complete. He stated that this flywheel mechanism will be launched alongside a significantly upgraded product suite at launch, with the goal of making Believe a platform that helps creators transform their ideas into a long-term, sustainable ecosystem. Simultaneously, Alliance DAO founding partner Imran Khan recently announced that everything is in place, and Believe V2, driven by community insights, will lead the next wave of funding for founders and projects. It’s worth noting that US SEC Chairman Paul S. Atkins recently stated the need to ensure entrepreneurs can raise funds on-chain without facing endless legal uncertainty. This statement may inspire more on-chain entrepreneurs, further opening up new market opportunities for launch platforms and testing the waters for who can seize these opportunities first.By Nancy, PANews After experiencing its darkest hour, on-chain liquidity has recently shown signs of recovery. Several leading Solana Launchpads have successively launched new products and features, expanding their growth potential through new narratives, attracting renewed market attention and ushering in a new round of competition. Pump.fun regains its top spot with multi-strategy efforts Pump.fun has regained market attention, with its price, revenue, trading volume and other data soaring. According to Coingecko data, the PUMP token has seen a 65.1% increase in price over the past 30 days, reaching a market capitalization of approximately $2.1 billion. Its FDV has climbed to $5.94 billion, exceeding its $4 billion valuation at the time of the public sale. This trend suggests that market confidence in Pump.fun is gradually recovering. Amidst the LaunchPad wars, Pump.fun's market share has rebounded. According to Jupiter data, Pump.fun's market share reached 81.2% in the last 24 hours, significantly widening the gap with competitors like Letsbonk and Believe. Previously, Pump.fun had been surpassed or even crushed by its competitors. Dune data shows that Pump.fun's weekly trading volume has rebounded from less than $150 million at the end of July to $1.1 billion, while daily revenue has surged from $161,000 in August to $1.575 million, bringing its cumulative revenue to over $830 million. DeFillama data shows that in the past 24 hours alone, Pump.fun generated approximately $2.57 million in revenue, ranking fourth behind Tether, Circle, and Hyperliquid. Pump.fun's current market recovery is due to the effective implementation of a multi-layered strategy. In mid-July, Pump.fun announced the launch of a buyback program. Official website data shows that Pump.fun has used over 457,000 SOL tokens to purchase PUMP tokens, valued at over $84.97 million, representing 6.158% of the total circulating supply. Over the past month, the ratio of Pump.fun's revenue to buyback expenditures has repeatedly exceeded 100%. This operation has effectively reduced the circulating supply and provided some support for the short-term token price. According to Token Unlocks data, the next unlock date for PUMP is July 2026, providing a window for the project to continue tightening market circulation. The following month, Pump.fun launched the Glass Full Foundation to inject liquidity into specific ecosystem tokens. Dune data shows that Pump.fun has invested over $1.694 billion in 10 MEME tokens listed on Pump.fun (such as House, Tokabu, Salary, and USDUC). This move has boosted investor confidence and boosted trading activity on the platform. In early September, Pump.fun, targeting the CCM (Creator Capital Market) market, launched Project Ascend, an update program that introduced a dynamic fee V1 update. Creator fees will be tiered based on market capitalization. This fee structure applies to all PumpSwap tokens (both new and existing). The Pump.fun protocol fee and the automatically compounded fees paid to liquidity providers (including burned LPs) remain the same. Dune data shows that over the past seven days, Pump.fun creators have earned over $16.266 million, far exceeding protocol revenue. Furthermore, the number of unique wallet addresses claiming these earnings has rebounded from 1,898 at the beginning of August to 9,065. While Pump.fun has achieved a phased recovery through strategies like token buybacks, liquidity injections, and creator incentives, it hasn't yet fully recovered to its historical peak. The co-founders of Pump.fun have even boldly predicted a return to the "trench rush" of Pump.fun in Q4 2024, with even higher gains. Unlike previous efforts, Pump.fun has shifted its strategic focus to CCM. Whether it can maintain sustainable vitality and growth remains to be seen. With its market share plummeting, BONK.fun is looking for new growth points. Unlike Pump.fun, which has seen a resurgence in popularity, BONK.fun's market share has experienced a rapid decline. Dune data shows that as of September 10th, BONK.fun's core metrics have all declined significantly. Daily token deployment has fallen from a high of 74.5% to 2.7%, daily token graduations have dropped from 88.8% to 1.2%, and trading volume has dropped from 86.4% to 3.2%. Clearly, BONK.fun has lost its market advantage. After experiencing a rapid decline in market share, BONK.fun has adopted various self-rescue measures. For one thing, BONK.fun continues to promote a token buyback and burn mechanism to maintain ecosystem stability. According to its official website, as of September 11th, BONK.fun had generated over 319,000 SOL, 35% of which was used to buy back and burn BONK tokens, further reinforcing its deflationary logic. Meanwhile, treasury strategies have injected new narratives into BONK. Nasdaq-listed company Safety Shot recently launched its BONK treasury strategy, raising $5 million in cash and $25 million in BONK tokens (funded by BONK's founding members). Meanwhile, BONK.fun is rapidly adjusting its direction, focusing on the ICM (internet capital market) sector. Recently, BONK.fun announced a partnership with WLFI, becoming the official launchpad for USD1 on Solana. Freya Protocol, an ICM protocol powered by USD1, will soon be available on BONK.fun. Furthermore, WLFI announced a partnership with BONK.fun to launch Project Wings, a program designed to provide promotional incentives to qualified participants who trade the USD1 trading pair on BONK.fun. Furthermore, BONK.fun also responded positively to Pump.fun's focus on live streaming, recently announcing its integration with Kick, allowing creators to live stream on Kick. Judging from BONK's price performance, these measures have also led to a short-term recovery in the price. Coingecko data shows that BONK has fallen approximately 6.1% over the past 30 days, but has rebounded 17.4% in the past week. However, whether BONK.fun can reverse its declining market share in the long term remains to be seen. It can achieve new heights in narrative innovation and community development. ICM's popularity drives attention, Believe V2 is about to be launched Believe was the first LaunchPad platform to propose the ICM narrative, and it once captured significant market share. However, with the decline in the value of its LAUNCHCOIN token, its popularity waned. Recently, as the ICM concept continues to gain popularity within the community, Believe has regained market attention. According to Coingecko data, LAUNCHCOIN has risen 38% over the past month and a whopping 70.4% over the past seven days. Regarding platform strategy, Believe founder Ben Pasternak recently revealed that the platform is building a flywheel mechanism centered around "investors → creators / platform → investors," and that the plan is currently approximately 80% complete. He stated that this flywheel mechanism will be launched alongside a significantly upgraded product suite at launch, with the goal of making Believe a platform that helps creators transform their ideas into a long-term, sustainable ecosystem. Simultaneously, Alliance DAO founding partner Imran Khan recently announced that everything is in place, and Believe V2, driven by community insights, will lead the next wave of funding for founders and projects. It’s worth noting that US SEC Chairman Paul S. Atkins recently stated the need to ensure entrepreneurs can raise funds on-chain without facing endless legal uncertainty. This statement may inspire more on-chain entrepreneurs, further opening up new market opportunities for launch platforms and testing the waters for who can seize these opportunities first.