Crypto: PumpSwap Records $2.43 Billion In Transactions In Just 10 Days

In just ten days of existence, PumpSwap has established itself as a major player in the decentralized exchange ecosystem. This platform, launched by Pump.fun, already shows impressive figures that testify to its rapid adoption by the crypto community.

PumpSwap establishes itself in the crypto market with an unprecedented model

PumpSwap was launched on March 20, 2024, and quickly made headlines. In just ten days, the decentralized exchange processed a staggering volume of $2.43 billion, attracting over 700,000 active wallets.

The platform facilitated over 30.59 million trades, generating $5.4 million in fees for the protocol, according to the data compiled by Dune Analytics.

Despite its young age, PumpSwap has already captured 8% of the market share of decentralized exchanges on Solana. A remarkable performance compared to the giant Raydium, which still dominates the sector with 74% of the market.

The fee structure of PumpSwap contributes to its attractiveness: transaction fees of only 0.25%, of which 0.20% goes to liquidity providers and 0.05% to the protocol itself. This approach is expected to evolve further with the upcoming introduction of a revenue-sharing system for creators.

A strategic integration strengthens its potential

The rise of PumpSwap reached a decisive milestone on March 25 with its integration with MEXC, a major exchange platform in the crypto universe. The latter announced support for PumpSwap through its DEX+ aggregator, thus facilitating access to the platform’s tokens.

This strategic collaboration now allows MEXC’s 34 million users, spread across 170 countries, to directly access the tokens listed on PumpSwap from the MEXC app and website. A first in the sector, as MEXC thus becomes the first aggregator to allow this type of direct exchange with PumpSwap.

This integration comes at a crucial time as the global volume of decentralized exchanges on Solana has significantly decreased, dropping from $258 billion in January to just $50 billion in March 2024, according to data from DefiLlama. The decline in interest for memecoins partly explains this trend.

In the face of a rapidly changing market, PumpSwap stands out with its unique value proposition: to bring together trading, liquidity management, and token creation on a single platform.

This all-in-one approach, which eliminates costly migrations to other platforms, could well revitalize the memecoins ecosystem on Solana in the coming months.