PANews reported on October 21st that according to The Block, Pump.fun has regained a near-monopoly in the token incubation market, accounting for approximately 95% of tokens that "graduate" (transfer to DEXes like Raydium) daily. Overall Launchpad activity has recently declined, with a total of approximately $100 million and approximately 100 tokens graduating daily. Pump.fun's daily revenue is approximately $1 million, down from approximately $3 million in September. Competitors include LetsBonk, Believe, and Moonshot; 4.meme's BNB chain also demonstrates the cross-ecosystem viability of this model.