LONDON (IT BOLTWISE) – In a strategic move to strengthen its market position, Pump.fun has announced the acquisition of Padre trading terminal. This acquisition comes amid a cooling memecoin market that has lost significant momentum since its peak in 2024.
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Solana-based platform Pump.fun recently announced the acquisition of the Padre trading terminal, a move that highlights the company’s strategic expansion in a currently cooling memecoin market. Although the financial details of the acquisition were not disclosed, the move signals Pump.fun’s commitment to improving the liquidity of tokens traded on its platform. Trading terminals like Padre are crucial to achieving higher trading volumes, which is central to the stability and attractiveness of the platform.
Padre is a multi-chain trading terminal that specializes primarily in trading memecoins. It supports trading across multiple blockchains including Ethereum, Solana, BNB Chain and Base. This versatility makes it a valuable asset for Pump.fun, which continues to operate as the largest memecoin launchpad provider on Solana, although its market share has fallen from a high of 75% to around 44%.
The decline in the memecoin market has not gone unnoticed. According to industry reports, Pump.fun has seen a significant decline in its revenue in recent months. In July, monthly revenue fell below $25 million, down 80% from its peak in January. Despite a slight recovery in the following months, sales levels remain well below the peak values at the end of 2024.
However, the acquisition of Padre could provide new impetus for Pump.fun by invigorating trading activity on the platform and potentially attracting new users. Experts see the integration of trading terminals like Padre as a way to increase the appeal of memecoins, especially in a market that was severely affected by the recent crash on October 10th. Pump.fun’s future will depend on how effectively it can leverage these new resources to compete in a changing market environment.
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