Raydium LaunchLab's 24-hour graduation token volume surpassed Pump.fun, graduating a total of 198

According to Dune panel data, LaunchLab, Raydium's token issuance platform, graduated 198 tokens in the past 24 hours, surpassing the Pump.fun by 171 tokens. Most of the 198 tokens graduated came from Letsbonk.Fun, a Meme coin issuance platform developed by BONK and Raydium.
In addition, 15,558 tokens were issued in the past 24 hours on Raydium LaunchLab, and 23,073 tokens were issued in the past 24 hours on Pump.fun.
Raydium's LaunchLabs went live on April 16. According to its mechanism, tokens need to raise 85 SOL (about $11,150 at current prices) to graduate and migrate to Raydium's AMM fund pool for trading. On the Pump.fun platform, when a token reaches a market cap of about $69,000 (or equivalent SOL), its liquidity is automatically migrated to PumpSwap.