On July 6th, the "Battle of 100 Regiments" of the Solana on-chain Launchpad finally ushered in a phased victory. On-chain data shows that for the first time, LetsBonk.fun has surpassed Pump.fun in the three core indicators of market share, trading volume and number of coins issued, establishing a new round of platform structure.

However, the news of the Pump.fun coin issuance quickly triggered a risk-off sentiment in the market, resulting in a brief flight of funds from the Bonk ecosystem, and the platform's leading token $USELESS plummeted by more than 30% at one point. However, the market sentiment quickly recovered, and the next day, $USELESS rebounded strongly by more than 50%, with a market capitalization of more than $300 million, a new high, reflecting the community's high level of consensus on its narrative and continued confidence in the Bonk ecosystem.

$USELESS What exactly is the magic?

"If you missed the $PEPE, missed the $FARTCOIN, then you'd better take a hard look at $USELESS this time." This is the target recommended by Bonk Guy in many long articles and repositioned. Its narrative lies in using the phrase "Crypto is useless", a mockery from mainstream elites such as Bill Gates and Jamie Dimon, to construct a self-deprecating, useless, but extremely viral meme narrative system in reverse.

This is a token that does not need any disguise: it does not directly tell all traders that the token is useless under the banner of Layer 1, AI, RWA; The more it rises, the more "useless", and the more "useless", the more it rises. When the news media ran the headline: "$USELESS Market Cap Exceeds $100 Million", it became the strongest advertisement.

Related reading: "From silence to breaking the circle, what are the high-quality targets on the Letsbonk.fun?" 》

And Bonk Guy's record is a testament to this: $USELESS, who spent $60w to open a position, has now earned $8.1 million, a return of nearly 14 times.

Bonk's Resilience: From Mechanic Design to Founder's Background

After the news of the Pump.fun coin issuance triggered short-term selling pressure, the Bonk ecosystem did not collapse, but showed strong resilience. In addition to $USELESS, other ecological tokens have also ushered in a strong recovery - $KORI soared 87% in 24 hours, hitting a new high; $IKUN rebounded 23%; $CRYBB rebounded 32%.

Bonk's ability to quickly resolve market risk aversion in a short period of time is inseparable from the founder's sincerity and long-termism, in addition to the advantages of mechanism design.

This kind of rapid recovery is closely related to the operating logic of the platform itself. The biggest difference between LetsBonk.fun and Pump.fun is its value distribution method: Pump.fun tends to cash out with high fees, and most of the SOL profits flow directly to the project party; The LetsBonk.fun will use 50% of the platform fee to buy back and burn $BONK, and another 8% will go into the strategic reserve and community incentive plan, forming a benign closed loop of value.

What's more, Bonkguy "endorses" the entire ecosystem with real money. He once spent millions of dollars to buy ecological tokens such as $USELESS and $IKUN in public chain addresses, and even when they retraced 80% sharply, he still held them firmly, and now he has not cashed out with millions of dollars in paper profits. In the Solana environment where PVP is fierce and short-term emotions dominate, this rare long-termism has greatly boosted community confidence and won a real trust dividend for the Bonk ecosystem.

Related Read: "Full Suppression of Pump.fun, What Has LetsBonk Done Lately?" 》

summary

Pump.fun is going to issue at a valuation of $4 billion, while Bonk has a current market capitalization of only about $1.7 billion. The market generally believes that Bonk is undervalued, and Pump has been questioned frequently due to controversy over the mechanism, and the sentiment is clearly biased in favor of the former.

However, the final result still needs to wait for the market performance after the Pump is issued. Whether the valuation is reasonable and whether the story can be established depends on the real willingness of capital and users to pay. The winner is still to be revealed.