MemeCoin Infrastructure Takes Over DeFi A Creative Shift in the Making

CoinDesk reported:
Among the top 15 DeFi products in June, Memecoin-specific applications accounted for 5 of them.
The token launchpad is pumping. Fun is the second highest-grossing product, second only to the Ethereum mainnet, with the platform even surpassing Ethereum in 24-hour revenue on July 1.
Top protocols by 30-day revenue
Telegram trading bots such as Trojan, BananaGun, Maestro, and BonkBot also made it to the top 15, with Trojan’s revenue significantly higher than Uniswap. These bots collectively brought in $27.6 million in revenue over the past 30 days.
Memecoin super cycle
Crypto Twitter has dubbed 2024 as the “meme coin super cycle”, as on-chain trading services have become a competitive field for developers.
Modern on-chain traders are now equipped with Telegram and Discord bots, wallet trackers, social media trackers, custom RPCs, and toolkits to help them discover the next PEPE or WIF.
With the launch of Unibot in 2023, Telegram trading bots became popular, with the bot reaching a peak daily trading volume of over $3 million, surpassing $9 million in August.
Unibot’s token market value reached $220 million. However, since the launch of competitors like BananaGun and the popularity of Solana meme coins, Unibot’s token has plummeted by 96%, with the bot averaging only $1.2 million in daily operations last week.
Unibot token price
On the other hand, BananaGun’s token trading remains close to its all-time high, with a fully diluted valuation of $4.49 billion. BananaGun initially seized market share from Unibot by bundling bribery features on new token snipers.
Since its launch, BananaGun has continued to integrate with other chains such as Solana, Base, and Blast, with an average daily trading volume of $19 million last week.