In a significant development within the Solana ecosystem, PumpSwap, a decentralized exchange (DEX) launched by Pump.fun, has recorded an impressive trading volume of $4.5489 billion in just 24 hours, according to data from Dune Analytics. In its inaugural six days, the exchange amassed over $10.45 billion, securing approximately 19.2% of Solana’s total on-chain DEX volume, and ranking closely behind Raydium, which dominates with 60.7%. Furthermore, PumpSwap has demonstrated robust user engagement with over 243,000 daily active addresses and a total user base surpassing 385,200, translating to about $1.064 million in daily transaction fee revenues.
Pump.fun is strategically positioning itself to capture a larger share of the Solana decentralized finance (DeFi) market. With its innovative liquidity pools, PumpSwap is set to compete directly with existing automated market makers (AMMs), enhancing on-chain token trading opportunities. The platform’s commitment to providing launch liquidity for high-potential tokens reinforces its ambition to be a key player within the Solana DeFi landscape.