Pumpswap, the latest decentralized exchange ( DEX) from Pump.fun, has hit record highs in daily and weekly trading volume, reaching $488 million and $1.55 billion, respectively. Despite its rapid growth, Pumpswap still trails Raydium in market dominance, signaling an ongoing battle for supremacy in Solana’s DEX ecosystem.
Pumpswap Hits Record $488 Million in Daily Trading Volume, Eyes Market Growth
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PumpSwap’s Explosive Growth Looks to Challenge Raydium in Solana DEX Wars
Pumpswap, the newly launched dex by Pump.fun, has quickly made its mark on the Solana blockchain, recording an all-time high daily trading volume of $488.74 million on Tuesday, March 25. Over the past seven days, trading volume has reached $1.55 billion, signaling strong adoption from new and returning users.
According to data from Dune Analytics, the platform also achieved record engagement, with 220,206 active wallets in a single day and generating $1.46 million in fees. Of that, $292,216 came in protocol fees, pushing total lifetime protocol revenue to $3.09 million.
Despite these milestones, Pumpswap’s market share stood at 19.9%, while Raydium continued to dominate at 45.5%. This underscores the challenge ahead for Pumpswap as it looks to gain ground in the sector.
With its rapid growth and aggressive fee capture, Pumpswap is positioning itself as a strong competitor in Solana’s DeFi ecosystem. Whether it can dethrone Raydium remains to be seen, but its early performance suggests it is a contender to watch.
