According to Dune Panel data, on May 13th, Raydium's token issuance platform, LaunchLab, had 198 graduation tokens in the past 24 hours, surpassing Pump.fun's graduation token count of 171. The vast majority of the 198 tokens that graduated came from Letsbonk.Fun, a Meme coin issuance platform developed in collaboration between BONK and Raydium.
In addition, 15558 tokens have been issued in the past 24 hours on Raydium LaunchLab, and 23073 tokens have been issued in the past 24 hours on Pump.fun.
Raydium's LaunchLabs went live on April 16th, and according to its mechanism, tokens need to raise 85 SOL (approximately $11150 at the current price) to "graduate" and migrate to Raydium's AMM fund pool for trading. On the Pump.fun platform, when the market value of a token reaches approximately $69000 (or its equivalent SOL), its liquidity will automatically migrate to PumpSwap.
