PumpSwap DEX hits $2.5B volume in 10 days

PumpSwap, a decentralised exchange (DEX) launched by memecoin platform Pump.fun, has processed $2.43 billion in trading volume within its first 10 days, according to Dune Analytics.

The platform now ranks second among Solana (CRYPTO:SOL) DEXs, trailing only Raydium (CRYPTO:RAY) (47.5% market share) while surpassing competitors like Meteora and Whirlpool.

PumpSwap’s growth is driven by its integration with Pump.fun, enabling memecoins to migrate directly to the exchange without traditional Solana listings.

The protocol has generated over $20 million in fees, with liquidity providers earning $5 million.

Nearly 700,000 wallets have interacted with the platform, executing over 30 million swaps.

Despite PumpSwap’s success, Pump.fun’s broader exchange has seen declining volume as memecoin trading slows.

The team has hinted at plans for a native token launch, though details remain unclear.

Meanwhile, Raydium is developing its own memecoin launchpad, LaunchLab, to compete with Pump.fun.

PumpSwap’s rise reflects the evolving Solana DEX landscape, where memecoin-focused platforms are reshaping market share.

While early growth is strong, sustainability depends on maintaining user engagement and adapting to changing market trends.

The data highlights PumpSwap’s ability to capture memecoin liquidity, though competition and cooling demand pose challenges.

As Solana’s DEX ecosystem matures, platforms like PumpSwap and Raydium are expected to compete through innovation and partnerships.