Memecoin launchpad's DEX sees explosive growth in first 10 days
PumpSwap, the decentralized exchange launched by memecoin platform Pump.fun, has processed over $2.43 billion in cumulative volume just 10 days after launch. The rapid growth has shaken up Solana’s decentralized exchange landscape, pushing PumpSwap to second place in market share—just behind long-standing leader Raydium.
Launched on March 20, PumpSwap enables successful memecoins from Pump.fun to bypass Raydium’s migration process, providing an instant transition to secondary market trading. This change has proven wildly popular: PumpSwap has already processed over 30 million swaps and attracted nearly 700,000 unique wallets.
On March 30 alone, the DEX captured 14.5% of daily Solana DEX volume, while Raydium accounted for 47.5%. Other competitors like Meteora and Whirlpool trailed with 12–13% shares.
A revenue engine for the memecoin boom
PumpSwap has also proven lucrative. The protocol has generated more than $20 million in fees, with $5 million distributed to liquidity providers. While trading activity on Pump.fun itself has cooled in recent weeks, PumpSwap’s strong debut hints that its creators are executing a broader strategy that goes beyond just memecoin launches.
Pump.fun has also teased plans for a native token, which could further cement its ecosystem. Meanwhile, Raydium appears to be preparing for a competitive showdown with its own memecoin platform, LaunchLab, currently in development.
In a fast-moving sector like Solana DeFi, PumpSwap’s rise could mark the beginning of a shift in how tokens graduate into secondary markets—one driven not just by liquidity, but by community momentum and ease of integration.
