Unpacking the LaunchLabs Surge After Bonk Fun’s Launch

On April 29, 2025, Pine Analytics shared a fascinating thread on X about the explosive activity on Raydium's LaunchLabs platform following the launch of Bonk Fun. If you're not familiar, Raydium is a decentralized exchange (DEX) on the Solana blockchain, and LaunchLabs is its token creation platform, designed to rival Pump.fun. Bonk Fun, a memecoin initiative, seems to have sparked a frenzy, and the numbers are wild. Let’s break it down.

Token Launches Skyrocketed

In the four days after Bonk Fun’s launch on April 25, 2025, the number of daily tokens created on LaunchLabs jumped from a modest few hundred to a staggering 3,000–8,000 per day. That’s a massive spike! Most of these tokens were launched via LetsBonk, a module within LaunchLabs, though there was also a noticeable uptick on Raydium’s front end. To put this into perspective, Pine Analytics reported a total of 26,500 tokens launched in this period. This surge highlights Solana’s ability to handle high transaction volumes, which is why it’s a go-to blockchain for memecoin projects.

Token Graduation Rates: A Mixed Bag

Not every token makes it big, though. “Graduating” on LaunchLabs means a token meets the criteria—like hitting an 85 SOL bonding curve—to move to Raydium’s automated market maker (AMM) pool for broader trading. Pine Analytics noted that 211 tokens graduated during this period, with Bonk Fun tokens being overrepresented among them. However, this is just a tiny fraction of the total tokens launched. According to [CryptoNews](https://cryptonews.com/news/raydium-launchlabs-first-week-sees-3814-tokens-launched-but-only-112 graduate/), only 1.12% of tokens launched in LaunchLabs’ first week (starting April 16, 2025) graduated, suggesting many tokens struggle to gain traction.

Swap Activity Went Through the Roof

The thread also dives into swap activity—basically, how often people are trading these tokens on LaunchLabs’ bonding curve. Before Bonk Fun, there were about 13,000 swaps per day, with a trading volume of 7,000 SOL (Solana’s native token). Post-launch, swaps surged to 150,000–300,000 per day, with volumes hitting 100,000–250,000 SOL. That’s a huge leap! For context, 1 SOL was worth around $170 in April 2025, so we’re talking millions of dollars in daily trading volume.

Wallet Activity: Who’s Driving This?

Pine Analytics also looked at wallet activity. The top wallet swapped over 5,800 SOL in volume—nearly $1 million! Meanwhile, nearly 10,000 wallets swapped at least 10 SOL each, and there were 18,800 total swappers. This shows a broad base of participation, from big players to smaller retail traders, all jumping into the Bonk Fun hype.

Sniping Trends: LaunchLabs vs. Pump.fun

One interesting tidbit from the thread is about “sniping”—buying tokens within the first five blocks of their launch to capitalize on early price movements. About 38% of LaunchLabs tokens were sniped across 18,000 events. That’s significant, but it’s actually lower than the sniping rate on Pump.fun, LaunchLabs’ main competitor. This suggests LaunchLabs might be a bit less frenetic for early buyers, though it’s still a hotbed for quick trades.

Why This Matters for Raydium and Solana

LaunchLabs isn’t just a token factory; it’s a strategic move by Raydium to stay competitive. According to SolanaFloor, LaunchLabs charges a 1% fee on trades during the bonding curve phase, with 25% of that fee going toward buybacks of $RAY, Raydium’s native token. This could boost $RAY’s value over time, making LaunchLabs a key part of Raydium’s ecosystem.

Solana’s role here is also worth noting. Its fast transaction speeds and low fees make it ideal for memecoin mania, as highlighted by Smithii. The blockchain’s DeFi ecosystem has been booming in 2024, with platforms like Raydium leading the charge in DEX trading volume, per SolanaFloor.

Dive Deeper with Pine Analytics

Pine Analytics wrapped up the thread by linking to a Flipside Crypto dashboard for those who want to explore the data further. If you’re into Solana DeFi or memecoins, it’s a great resource to dig into the nitty-gritty of LaunchLabs’ performance.

What’s Next for LaunchLabs?

The Bonk Fun launch has clearly put LaunchLabs on the map, but the low graduation rate shows there’s room for improvement. Raydium has hinted at future updates to LaunchLabs, potentially offering more customization for token creators. For now, though, it’s a promising start—and a sign that Solana’s DeFi scene is as vibrant as ever in 2025. What do you think about this surge? Are you jumping into LaunchLabs, or are you sticking with Pump.fun? Let’s hear your thoughts!