- Pump.fun acquired Padre, a multichain trading terminal, to strengthen token liquidity on Solana.
- The move follows an 80% revenue decline for Pump.fun since January 2025.
- Solana’s memecoin market share and overall sector capitalization have both dropped sharply in recent months.
Solana-based memecoin launchpad Pump.fun has acquired the Padre trading terminal for an undisclosed sum, as the once-hot memecoin market continues to cool.
Announced on X (formerly Twitter) on Friday, the acquisition is designed to enhance liquidity for tokens on Pump.fun’s platform. The company said the integration will allow for deeper trading functionality, helping sustain activity across its ecosystem even amid waning hype.
Pump.fun described Padre as a multichain trading terminal offering a “strong user experience,” cashback rewards, competitive fees, and dedicated trader support. Padre currently supports trading across Ethereum, Solana, BNB Chain, and Base.
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Memecoin market slowdown
Pump.fun remains the largest Solana memecoin launchpad, holding around 44% of total market share, according to Jupiter data. However, this is a steep decline from its 75% peak during the 2024 memecoin boom.
The acquisition comes as the platform grapples with declining trading activity and revenues. Pump.fun’s monthly revenue in July fell below $25 million, marking an 80% drop from its January 2025 peak, according to DefiLlama. While revenue saw a mild recovery in August and September, it remains well below last year’s highs.
At a broader level, CoinMarketCap data shows the memecoin market capitalization has plunged over 21% in the past 30 days, hit particularly hard by the October 10 market crash, which caused widespread liquidations of leveraged positions across the crypto sector.
Strengthening Solana’s liquidity layer
By acquiring Padre, Pump.fun is aiming to diversify its product stack and stabilize token trading volumes on Solana.
While memecoin enthusiasm has waned, the company appears focused on building infrastructure that can support long-term trading activity a shift from speculative frenzy to sustained market utility.
The acquisition may also position Pump.fun to expand beyond Solana, leveraging Padre’s multichain capabilities to connect new liquidity sources and restore growth momentum.
