PumpSwap, the decentralised exchange (DEX) launched by memecoin platform Pump.Fun, recorded $2.5 billion in weekly trading volume during the week of April 6, marking a 40% increase compared to the previous week’s $1.8 billion.
Since its launch on March 19, PumpSwap has processed over $98.4 million in trades, demonstrating rapid growth within the DEX ecosystem.
The platform experienced record-breaking activity last week, with daily trades reaching a peak of 6.1 million on April 12 and 5.7 million swaps on April 14.
On April 15, PumpSwap set a new daily volume record of $417.8 million, surpassing its previous high of $412.7 million reported on April 14.
Additionally, the DEX recorded nearly 264,500 daily active wallets, including over 163,000 recurring wallets and 101,000 new users.
PumpSwap was designed as a “frictionless environment” for memecoin trading and has attracted significant attention since its debut.
In its first week alone, the DEX exceeded $1 billion in trading volume.
The platform operates with a fee structure of 0.25%, allocating 0.2% to liquidity providers and 0.05% to the protocol itself.
As of now, PumpSwap has generated total lifetime fees of $14.2 million.
Revenue growth has kept pace with increases in trading volume.
On April 14, daily fees hit a record $1.05 million, consisting of $210,000 in protocol costs and $840,000 in liquidity provider fees.
The platform’s success has also benefited traders significantly; data shows that over 500 wallets earned more than $1 million through memecoin trading on PumpSwap, while more than 9,000 wallets gained over $100,000.
Despite its impressive performance, PumpSwap faces challenges in sustaining growth amid shifting market trends and increasing competition within the Solana blockchain ecosystem.
Rival platforms like Raydium are developing new initiatives to compete with PumpSwap’s memecoin-focused offerings.