PANews reported on March 31 that according to The Block, the Dune Analytics dashboard shows that the new decentralized exchange (DEX) PumpSwap created by the Meme coin issuance platform Pump.fun team has accumulated a trading volume of 2.43 billion US dollars in the first ten days since its launch. Pump.fun launched the DEX on March 20, aiming to allow successfully issued Meme coins to be directly migrated to PumpSwap, bypassing the Solana ecosystem DEX and automated market maker (AMM) Raydium.
PumpSwap currently ranks second in market share among mainstream DEXs. Last Saturday, PumpSwap accounted for 14.5% of the trading volume in several Solana head DEXs, while Raydium maintained its lead with a share of 47.5%, and Meteora and Whirlpool's trading volume accounted for between 12% and 13%. PumpSwap has currently generated more than $20 million in protocol fees, and liquidity providers have earned more than $5 million. Currently, nearly 700,000 wallet addresses use the protocol, and the total number of transactions has exceeded 30 million.
