Pump.fun has strengthened its position in the Solana memecoin sector by acquiring the Padre trading terminal, as the market has cooled down from its peak in 2024.

The acquisition was announced on Friday via X, although exact financial details were not disclosed. The company indicated that this move is aimed at boosting token liquidity, emphasizing the importance of trading terminals for increasing trading volumes.

Pump.fun praised Padre for its robust user experience, cashback incentives, competitive fees, and dedicated trader support.

Source Source: Pump.fun

The Padre platform stands out as a multichain trading terminal, primarily serving the memecoin market, and is compatible with Ethereum, Solana, BNB Chain, and Base.

According to Jupiter data, Pump.fun retains its title as the leading launchpad for memecoins on Solana, commanding around 44% of the market share, a drop from nearly 75% at its peak.

Solana memecoin market share Solana memecoin launchpad market share. Source: Jupiter

The Declining Memecoin Craze

The acquisition is part of Pump.fun’s strategy to maintain its stronghold in a memecoin market that has significantly cooled since its high points of 2024 and early 2025. A recent report from Cointelegraph indicates that the platform’s monthly revenue fell below $25 million in July, marking an 80% decline from its peak in January.

Despite some signs of recovery in August and September, revenue remains substantially lower than the end of 2024 figures, based on data from DefiLlama.

Additionally, data from CoinMarketCap reveals that the total memecoin market capitalization has shrunk by over 21% in the last month, significantly affected by the market crash on October 10 that led to a historic liquidation of leveraged assets across the crypto space.

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