Mar 31, 2025 11:31

• PumpSwap launched on March 20th. 
• Since then, the trading volume on the platform has exceeded $2.5 billion. 
• It is among the top leaders in this indicator in the Solana network, and on a daily basis it even leads it. 

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Since its launch, the PumpSwap decentralized exchange (DEX) has seen total trading volume exceed $2.5 billion, according to Dune Analytics . Despite this, the Raydium platform still controls the majority of the market. 

Memcoin creation platform pump.fun announced the launch of its own DEX on March 20, 2025. However, information about it appeared on the network much earlier. 

PumpSwap is essentially an attempt to replace the Raydium platform, which trades pump.fun memecoins that have passed a certain liquidity threshold. In response, Raydium announced plans to launch its own service for creating memecoins. 

According to the Dune Analytics dashboard, the total trading volume on PumpSwap has exceeded $2.5 billion since the release, with the daily maximum recorded on March 24 at $348.43 million:

Despite PumpSwap's growth, Raydium remains the market share leader in the Solana ecosystem:

At the same time, Raydium is significantly inferior to PumpSwap in terms of trading volume, according to DeFiLlama, as are other large platforms - Orca and Lifinity. At least on a daily basis: 

However, the situation will be different on the weekly chart. Here Raydium is in first place, while PumpSwap is in second. 

The launch of PumpSwap has led to short-term spikes in pump.fun's metrics, but the overall trend in both fees and new tokens remains downward.