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PumpSwap DEX Seven-Day Volume Reaches $1 Billion
Pump.fun’s new decentralized exchange (DEX) PumpSwap has made a remarkable splash in the crypto market, with its seven-day volume reaching an astonishing $1 billion. This significant milestone marks a substantial increase from the initial trading day when it recorded a volume of only $50 million.
According to data from Dune Analytics, the DEX’s 24-hour volume is now over $500 million, with daily swaps reaching a staggering high of 4.2 million on March 24. Furthermore, the platform has set a new all-time high in 24-hour fees at $1.4 million, demonstrating its growing popularity among traders.
PumpSwap’s market share has also surged remarkably, rising from 2.5% of the total DEX volume on Solana on March 19 to an impressive 19.9% by March 25, ranking it as the second-largest player in the market behind Raydium, which dominates over 50% of the market share.
The platform has also seen a significant increase in user engagement, with daily active wallets reaching a new high of 243,164 on March 24, consisting of both returning and new users. Notably, a substantial proportion of these transactions (over 14.6 million) have been processed by PumpSwap within the past week.
Notably, Pump.fun had previously declared that its DEX would streamline the process between token creation and trading. As such, it remains to be seen whether this increased popularity will enable PumpSwap to outdo Raydium in the near future.
Source: https://fullycrypto.com/pumpswap-dex-seven-day-volume-reaches-1-billion?utm_source=rss&utm_medium=rss&utm_campaign=pumpswap-dex-seven-day-volume-reaches-1-billion
