Pump.fun’s decentralized exchange (DEX), PumpSwap, achieved over $1 billion in cumulative trading volume just a week after its launch on March 19. The platform aims to provide a seamless trading environment for memecoins, eliminating the need for migrations to other DEXs like Raydium, which previously complicated the trading process. Within its first week, PumpSwap recorded daily trading fees exceeding $1 million and a total revenue surpassing $2.1 million. Notably, the daily trading volume peaked at $425 million on March 24, with 4.2 million transactions on that day alone. While the memecoin market has been experiencing a decline, with Solana daily token minting dropping significantly since January, PumpSwap's successful launch positions it as a competitive entity in the DEX landscape, contrasting its previous partnership with Raydium.

Source 🔗