Pumpswap, the latest decentralized exchange (DEX) from Pump.fun, is experiencing explosive growth on the Solana blockchain. On March 25, the platform hit a new all-time high, recording $488.74 million in daily trading volume. Over the past week, total trading volume surged to $1.55 billion, highlighting strong adoption from both new and returning users.
According to data from Dune Analytics, Pumpswap also saw record engagement, with 220,206 active wallets in a single day and generating $1.46 million in transaction fees. Of this, protocol fees accounted for $292,216, pushing the platform’s total accumulated revenue to $3.09 million.
Despite these impressive milestones, Pumpswap holds a 19.9% market share, while Raydium continues to dominate at 45.5%. This underscores the ongoing battle for dominance in Solana’s DEX ecosystem.
With its rapid growth and aggressive fee capture, Pumpswap is positioning itself as a strong contender in Solana’s DeFi space. Whether it can dethrone Raydium remains uncertain, but its early performance suggests it is a competitor worth watching.
