Solana-based memecoin launchpad Pump.fun has acquired the Padre trading terminal for an undisclosed amount, signaling the network’s continued expansion into a sector that has cooled significantly since its peak craze in 2024.
Pump.fun announced the acquisition on X on Friday but did not disclose financial details. The company said the move aims to enhance liquidity for tokens on its platform, noting that trading terminals are key to driving higher trading volumes.
Pump.fun described Padre as offering a strong user experience, cashback rewards, competitive fees and dedicated trader support.
Padre is a multichain trading terminal, though it is primarily positioned as a memecoin trading platform. It supports trading across Ethereum, Solana, BNB Chain and Base.
Pump.fun remains the largest launchpad for memecoins on Solana, accounting for roughly 44% of market share, according to Jupiter data. However, that figure is down from a peak of around 75%.
Related: Pump.fun spends over $62M on buybacks to boost PUMP price
Memecoin craze fades
The acquisition comes as Pump.fun works to maintain its dominance in a memecoin market that has cooled significantly from its peak in 2024 and early 2025. As Cointelegraph recently reported, the platform’s monthly revenue in July dropped below $25 million — an 80% decline from its January peak.
Although revenue recovered somewhat in August and September, it remains well below levels seen at the end of 2024, according to data from DefiLlama.
Meanwhile, CoinMarketCap data shows that the overall memecoin market capitalization has fallen by more than 21% over the past 30 days. The sector was hit especially hard by the Oct. 10 market crash, which triggered a historic liquidation of leveraged positions across the crypto sector.
Related: Elon Musk posts his pet dog Floki on X; memecoin pumps 29%
