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According to the latest data, Bonk.fun has surpassed Pump.fun to become the leading token issuance platform within the Solana ecosystem, with a market share of 55.2%. Since its launch in January 2024, Pump.fun has dominated the market for two years, with a cumulative trading volume exceeding $8 million. However, Bonk.fun surpassed Pump.fun in just two months with deeper incentive mechanisms and rapid user growth. Bonk.fun's unique rate structure has become the key to its rapid rise. 58% of the platform's revenue is used to purchase and destroy BONK tokens, of which 50% is used for direct destruction and 8% is used as reserves. According to statistics, Bonk.fun has an average daily trading volume of over 1 million US dollars, with an average daily purchase and disposal amount of 500000 US dollars used for BONK. As of now, Bonk.fun has completed 175000 token issuances with a total trading volume of $540 million and generated approximately $34 million in fees, far exceeding Pump.fun's $341 million trading volume and 34.9% market share. In addition, the USELESS token issued by Bonk.fun has quickly become popular, with a market value exceeding $100 million. If Bonk.fun maintains its current growth rate, it is expected that the annualized purchase amount of BONK tokens will reach hundreds of millions of dollars, further tightening the market supply. At the same time, other Solana ecosystem distribution platforms, such as Believe, Jup Studio, and Moonshot, have market shares of 3.8%, 2.1%, and 1.7%, respectively, showing a significant performance gap compared to Bonk.fun.