Pump.fun has made a strategic acquisition of the Padre trading terminal, aiming to improve token liquidity as the Solana memecoin market settles from its 2024 high points.

The acquisition, announced on X, comes without financial details but highlights the significance of trading terminals in boosting trading volumes.

Pump.fun emphasized the strong user experience delivered by Padre, which includes features such as cashback rewards, competitive fees, and dedicated support for traders.

Image Source: Pump.fun

Padre operates as a multichain terminal primarily dedicated to memecoins, facilitating trades across Ethereum, Solana, BNB Chain, and Base. Pump.fun currently leads the Solana memecoin launchpad sector, holding approximately 44% of the market share, down from 75% at its peak.

Market Share Solana memecoin launchpad market share. Source: Jupiter

The acquisition is timely as the memecoin market continues its downturn from the previous year. Cointelegraph reported a significant 80% drop in Pump.fun’s monthly revenue in July, falling below $25 million. Despite some recovery in August and September, figures remain substantially lower than those noted at the end of 2024, based on DefiLlama data.

Moreover, CoinMarketCap data indicates that the overall memecoin market cap has decreased by over 21% in the past month, heavily impacted by the recent market crash on October 10, which led to a massive liquidation of leveraged positions in the crypto space.