Rare Bitcoin - Memecoin launchpad Pump.fun’s new decentralized exchange (DEX), PumpSwap, surpassed a cumulative trading volume of $1 billion a week after its launch, according to blockchain analytics platform Dune.
On March 19, Pump.fun launched its Solana DEX to create a “frictionless environment” for memecoin trading. Previously, memecoins launched on Pump.fun needed to migrate into the Solana DEX Raydium after bootstrapping liquidity, despite which the trading platform became the most popular DEX in Solana.
Still, the Pump.fun team said these migrations slowed token momentum and introduced “needless complexity” for new users. With the new DEX, the project said migrations happen instantly and are free. A Dune Analytics dashboard by onchain analyst Adam_Tehc showed that PumpSwap had an all-time trading volume of $1.1 billion in its first seven days.
PumpSwap exceeds $1.1 billion in trading volume
During its first day, the platform had a modest trading volume of about $50 million. On March 24, the volume spiked eight times, recording over $425 million in trading volume.
Daily swaps on the platform peaked on March 24, recording 4.2 million transactions. The DEX’s cumulative number of swaps surpassed 11 million, while the number of active users has reached over 388,000, according to the data. Source
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