Yigit Taha OZTURK 
Memecoin launchpad Pump.fun’s new decentralized exchange (DEX), PumpSwap, recorded over $1 billion in trading volume within a week of its launch, according to Dune Analytics. The platform’s all-time trading volume has reached $1.1 billion.
Revolutionizing Memecoin Trading with PumpSwap
On March 19, Pump.fun launched its Solana-based DEX, PumpSwap, aiming to provide a seamless trading environment for memecoins. Previously, memecoins had to migrate to Raydium for liquidity, causing momentum loss and complexity for new users. With PumpSwap, these migrations are now instant and free.
PumpSwap’s Rapid Growth & Key Metrics
- First-day trading volume: $50 million
- March 24 trading volume: $425 million
- Total swap transactions: 11 million
- Total active users: 388,000
- Total protocol fees collected: $2.1 million
- Liquidity provider fees: $540,000
On March 24, PumpSwap generated $1 million in daily fees, matching Pump.fun’s revenue.
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Pump.fun vs. Raydium: Growing Competition
The launch of PumpSwap follows Raydium’s recent announcement of its LaunchLab memecoin platform. This move shifts the dynamic between Pump.fun and Raydium, making them direct competitors in the Solana ecosystem.
Declining Memecoin Hype on Solana
The launch of PumpSwap coincides with the cooling of the Solana memecoin frenzy. Solscan data shows:
- Daily token minting peaked at 95,578 on January 26 but dropped to 26,298 on March 22.
- Successful token listings on Pump.fun declined from 1,200 (January 23-24) to 149 on March 20.
- Solana’s weekly revenue fell from $55.3 million (mid-January) to $4 million (March 11), marking a 93% decrease.
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