The numbers don’t lie. PumpSwap has already snagged 14% of Solana’s DEX market, making it the second-largest Solana AMM by volume. It’s sitting pretty with an 18% market share, though still trailing behind Raydium‘s dominant 50%. Sorry, Whirlpool—you’ve been demoted.
Users flocked to PumpSwap like moths to flame, with 243,000 traders jumping on board in week one. The platform has processed 12.58 million swaps and boasts over 401,000 active traders. Currently, 441,000 wallets interact with the platform. Impressive stuff.
PumpSwap’s user explosion: 243,000 traders in week one, 12.58 million swaps, and 441,000 active wallets. Crypto FOMO in action.
Most interesting? The volume isn’t coming from whales. A whopping 65.22% of trades are under $10, with another 21.40% between $10 and $100. Small fish, big ocean. On its busiest day, PumpSwap handled 4.2 million swaps.
Money talks. With a 0.25% trading fee (0.20% to liquidity providers, 0.05% to the protocol), PumpSwap generated $1.06 million in fees on its peak day alone. First-week fee revenue? $3.03 million. Ka-ching.
The success hasn’t gone unnoticed. Raydium, still holding 46.1% market share, launched LaunchLab in response to Pump.fun’s popularity. PumpSwap’s edge? No 6 SOL fees for migrations, and trading beyond just memecoins. The platform has generated a total of $2.4 million in protocol fees since its March 20 launch. Unlike traditional CEXs, this peer-to-peer trading model eliminates the need for identity verification while maintaining robust security.
The ripple effect is real. Solana’s price jumped 2% in 24 hours and 17% over seven days. Raydium’s RAY token surged 22% in a week. Daily meme token creation on Pump.fun increased by 40. The platform lists various tokens including wrapped assets like CBBTC and USDe.
In a space where projects flame out faster than a cheap match, PumpSwap’s explosive debut suggests it might have staying power. Time will tell.
