Pump.fun expands with Padre acquisition as memecoin market cools
Pump.fun acquired the Padre trading terminal to boost token liquidity amid a cooling Solana memecoin market.Summary
Solana-based memecoin launchpad Pump.fun has acquired the Padre trading terminal for an undisclosed sum to enhance token liquidity and trading volumes on its platform. Pump.fun cited Padre's strong user experience, cashback rewards, and trader support as key factors. Padre is a multichain terminal supporting Ethereum, Solana, BNB Chain, and Base, though it is primarily focused on memecoins. This acquisition occurs as the Solana memecoin market cools significantly from its 2024 highs; Pump.fun's market share on Solana has dropped from a peak of 75% to about 44%. Furthermore, the platform's monthly revenue in July fell 80% from its January peak, reflecting the broader sector downturn, which was exacerbated by the recent market crash.
(Source：Cointelegraph)