PumpSwap DEX achieves $10 billion in trading volume within 10 days
PumpSwap tops $10B in 10 days
PumpSwap, a decentralized exchange (DEX) launched by the memecoin platform Pump.fun, has crossed a staggering $10 billion in cumulative trading volume just ten days after going live.
The platform’s explosive debut is reshaping the competitive landscape within the Solana ecosystem, where traditional leaders like Raydium and Meteora are losing market share, reports The Block.
Launched on March 20, PumpSwap enables seamless migration of successful memecoins from Pump.fun to the new DEX, bypassing other automated market makers (AMMs) like Raydium. This streamlined pathway has attracted massive user engagement: nearly 700,000 wallets have interacted with the protocol, according to data from Dune Analytics.
Shifting market share and revenue surge
PumpSwap’s rapid ascent has significantly impacted trading dynamics on Solana. On March 30, the platform processed 67.4% of total volume across major Solana DEXs, far outpacing Raydium, which accounted for 18.2%. No other exchange held more than 5% of the market on that day.
The DEX has already generated over $20 million in protocol fees, while liquidity providers have earned more than $5 million. This financial performance is notable given Pump.fun’s recent slowdown in memecoin trading activity, which may signal shifting user behavior as new platforms mature.
Future of memecoin infrastructure on Solana
While PumpSwap’s rise has been meteoric, its parent platform Pump.fun is reportedly planning the launch of a native token, a move that could further galvanize its user base and integrate tokenomics into its ecosystem. In response, Raydium is developing its own memecoin launchpad, LaunchLab, signaling a new competitive phase in Solana's DeFi market.
As the memecoin trend evolves, the success of PumpSwap highlights the growing appetite for simplified, high-volume trading platforms—and the potential for new entrants to disrupt even the most established players in the space.
Read also: Vitalik Buterin unveils Layer 2 plan for Ethereum amid price concerns
