相信生態系統正在迅速獲得吸引力，從pump.fun中汲取市場份額。

Solana Sol Memecoin Launchpad Space正在見證地震轉變，因為相信生態系統是一個強大的挑戰者。

The Solana SOL memecoin launchpad scene is heating up, with pump.fun facing increasing competition from the rapidly growing Believe ecosystem.

Solana Sol Memecoin Launchpad場景正在升溫，泵的速度正面臨著迅速增長的相信生態系統的競爭日益增長的競爭。

As Interest Capital Market (ICM) spawns new tokens and trading opportunities, more capital is flowing into the memecoin launchpad space on Solana.

隨著利息資本市場（ICM）產生新的代幣和交易機會，更多的資本正在索拉納（Solana）上的Memecoin Launchpad空間。

This had a mixed impact on platforms like pump.fun and LetsBONK, with validator on-chain activity surging 57% to $3.63 million daily in mid-May 2025, but pump.fun’s weekly fees dropped 27.5% from $18.2 million to $13.2 million between May 5 and May 17.

這對諸如pump..fun和Letsbonk之類的平台有不同的影響，在2025年五月中旬，有驗證者的鍊鍊活動飆升至57％，至363萬美元，但Pump.Fun的每週費用從1820萬美元下降到5月5日至5月17日之間的1320萬美元，至1320萬美元。

This downturn was attributed to the swift rise of Believe, which siphoned activity by offering a differentiated value proposition focused on startup and utility-focused token launches, unlike pump.fun’s memecoin-centric model. Among the tokens launched on May 15, pump.fun claimed a 57% share with 21,700 tokens, followed by LetsBONK at 18% with 6,800 tokens, while Believe had 12.9% with 4,900 tokens.

這種低迷歸因於信仰的迅速興起，這通過提供了一個差異化的價值主張，這些價值主張專注於啟動和以公用事業為中心的代幣發射，與泵一樣。在5月15日推出的代幣中，Fump.Fun聲稱擁有21,700個令牌的57％份額，其次是Letsbonk，為18％，有6,800個令牌，而相信有4,900個令牌為12.9％。

However, looking at the total token market capitalization, which measures the market value of all tokens launched by each platform, the hierarchy shifted dramatically.

但是，查看總代幣市值，該總計衡量了每個平台啟動的所有代幣的市場價值，層次結構發生了巨大變化。

The data revealed that pump.fun held a meager $6.8 million in total token market capitalization, whereas Believe boasted a substantial $200 million, showcasing the significant capital mobilized by the platform’s initiatives.

數據顯示，pump.fun的總計市值支付了680萬美元，而認為擁有2億美元的巨額資金，展示了該平台計劃動員的大量資本。

This disparity arose from the types of tokens being launched. While pump.fun facilitated the creation of memecoins, which typically started with low capital and high liquidity, Believe had been attracting developers aiming to launch startup and utility-focused tokens.

這種差異源於要啟動的代幣類型。雖然Pump.Fun促進了通常以低資本和高流動性開始的Memecoins的創建，但人們認為，人們一直在吸引旨在推出初創公司和以公用事業為中心的代幣的開發人員。

These tokens, despite being fewer in number, commanded higher initial capital due to the startup and utility projects' inherent value propositions.

由於啟動和公用事業項目固有的價值主張，這些令牌儘管數量較少，但仍指揮更高的初始資本。

Moreover, Believe’s unique bonding curve design, which limited early token supply and discouraged speculative sniping, appealed to developers seeking fairer launches, further contributing to the platform’s rapid growth.

此外，Selivel的獨特粘合曲線設計限制了早期令牌供應和灰心的投機狙擊，吸引了尋求更公平發射的開發商，進一步促進了該平台的快速增長。

This rapid growth of the Believe ecosystem was fueled by the booming popularity of ICM in 2025.

ICM在2025年的蓬勃發展所促進了相信生態系統的快速增長。

With over 200,000 Solana addresses engaging in ICM-related activities daily, the concept of users converting their tweets, posts, or digital engagement into tokens that could be traded was exploding, essentially creating decentralized markets for social capital.

每天都有超過200,000個Solana解決與ICM相關活動的地址，用戶將其推文，帖子或數字參與轉換為可能交易的代幣的概念正在爆炸，這基本上是為社會資本創造了分散的市場。

This popularity arose from the explosive growth of memecoin launchpads and the democratization of fundraising, both of which benefitted from the framework of ICM.

這種流行源於Memecoin Launchpads的爆炸性增長和籌款的民主化，這兩者都從ICM的框架中受益。

Among the platforms facilitating this new wave of tokenization, Believe stood out with its tweet-to-token model, generating $7.04 million in weekly fees by mid-May 2025 as users created tokens via social media interactions.

在促進這一新的令牌化浪潮的平台中，人們相信其推文到to型模型脫穎而出，到2025年5月中旬，由於用戶通過社交媒體互動創建了令牌，到2025年中期，每週收取704萬美元。

This synergy with ICM's framework positioned Believe as a leading platform, driving significant capital inflows as it captured the growing interest in social-driven token economics.

與ICM框架定位的這種協同作用將其視為一個領先的平台，這引起了大量資本流入，因為它吸引了人們對社會驅動的代幣經濟學的興趣日益增長的興趣。

However, despite facing this competitive pressure and a decline in weekly on-chain activity, pump.fun remained a dominant force in the memecoin launchpad space.

然而，儘管面臨著這種競爭壓力和每週鏈上活動的下降，但泵仍然是Memecoin發射台空間中的主要力量。

This dominance was attributed to the platform’s user-friendly design and established user base, particularly in the memecoin segment.

這種主導地位歸因於該平台的用戶友好設計和建立的用戶群，尤其是在Memecoin細分市場中。

After removing token creation fees in August 2024 and shifting costs to the first buyer, who paid a 0.5 SOL ($80) reward to the developer of a successful token, pump.fun kept its services accessible, which contributed to the launch of 37.8K tokens in a single day in mid-May 2025.

在2024年8月刪除了代幣的創建費並向第一批買家轉移成本，後者向成功的代幣的開發商支付了0.5 sol（80美元）的獎勵，pump.fun使其服務可訪問，這有助於在2025年中期中期的一天中的一天在一天中的一天中啟動37.8k代幣。

For instance, on May 14, at the peak of activity, of the 37.8K tokens launched, pump.fun claimed 57% with 21,700 tokens, followed by LetsBONK at 18% with 6,800 tokens, and Believe at 13% with 4,900 tokens. But when looking at the tokens that had already graduated, shifting from the launch stage to be fully operational, the hierarchy changed.

例如，5月14日，在活動的高峰時，在37.8k代幣中推出了Pump.Fun，佔57％，以21,700個令牌為單位，其次是Letsbonk，為18％，有6,800個令牌，並相信4,900個令牌為13％。但是，當查看已經畢業的代幣，從發射階段轉移到完全運行時，層次結構發生了變化。

At their peak performance last week, the competitors took nearly 50% of tokens deployed and nearly 60% of graduated tokens.

在上週的最高表現上，競爭對手將近50％部署的令牌和近60％的畢業令牌佔據了。

This shift was attributed to the platforms’ competitive edge in specific domains. For example, LetsBONK excelled in graduating tokens, showcasing its ability to guide projects through the launch process successfully. In contrast, Believe's strength lay in deploying new tokens rapidly, highlighted by its swift integration of ICM.

這種轉變歸因於平台在特定域中的競爭優勢。例如，Letsbonk在畢業令牌上表現出色，展示了成功指導項目成功完成啟動過程的能力。相比之下，相信它的實力在於迅速部署新的代幣，其迅速集成ICM。

This competitive pressure was also evident in recent tweaks by pump.fun to creator rewards, aiming to retain a larger share of the revenue generated by the tokens launched on its platform.

pump.fun對創建者的獎勵最近的調整也很明顯，旨在保留在其平台上啟動的代幣產生的收入中的較大份額。

However, despite these adjustments, Believe was siphoning away market share with its innovative approach, including a focus on non-meme

然而，儘管進行了這些調整，但人們認為，通過其創新的方法虹吸了市場份額，包括關注非最佳的市場