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Memecoin Launchpad GraFun Expands to Ethereum to Clinch New Users
Expanding to Ethereum will help GraFun capture newer audiences, tap into higher liquidity for meme issuances and increase the platform’s visibility among crypto traders.
Updated Nov 20, 2024, 1:00 p.m. Published Nov 20, 2024, 1:00 p.m.
- Expanding to Ethereum will help GraFun capture newer audiences, tap into higher liquidity for meme issuances and increase the platform’s visibility among crypto traders.
- GraFun uniquely offers a “Fair Curve” model that developers say minimizes rug-pull risks.
BNB Chain-based memecoin issuance platform GraFun is expanding to the Ethereum network on Wednesday, the project’s developers shared with CoinDesk.
GraFun uniquely offers a “Fair Curve” model that developers say minimizes rug-pull risks, reduces price manipulation and ensures fairer token issuances that result in fewer users losing money. Memecoin behemoth Floki owns over 40% of GraFun, and other backers include DWF Labs.
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“In just 1.5 months since the platform debuted, it saw already 13.6K plus memecoins launch with an overall volume of $430 million,” GraFun told CoinDesk in a Telegram message. “Even when only operating on one chain, it became the top-performing memecoin launchpad on any EVM-compatible chain.”
Expanding to Ethereum will help GraFun capture newer audiences, tap into higher liquidity for meme issuances and increase the platform’s visibility among crypto traders.
The most popular examples of memecoin launchpads that use a “Fair Curve” model kind of model are Pump on Solana - which pioneered such a model - and Tron’s Sun Pump.
Pump.fun has earned over $150 million in fees in the last six months alone and is currently projected to generate $400 million in annual fees. SunPump has earned $5.4 million in fees since launching in August.
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CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.
What to know:
Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.
- Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
- Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions.
- Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.
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- Ethena's USDe becomes fifth stablecoin to surpass $10 billion market cap in just 609 days, while Tether's dominance continues to slip.
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