PumpSwap DEX Hits $2.47B Weekly Volume on Solana, Up 40% as of April 16

PumpSwap, a decentralized exchange (DEX) built by pump.fun on the Solana blockchain, processed $2.47 billion in trading volume last week, marking a 40% increase from the prior week, according to DeFiLlama data. The increase underscores PumpSwap's growing presence in Solana's decentralized finance (DeFi) ecosystem, driven by its integration with pump.fun's meme coin launchpad and a competitive fee structure.

Launched by pump.fun in March 2025, PumpSwap operates as an automated market maker (AMM), similar to Uniswap V2 and Raydium V4. Despite starting with a modest $668k in trading volume on its first day, the platform has seen steady growth. By April 16, 2025, PumpSwap's daily trading volume reached $464.87 million, ranking it fourth among Solana-based DEXs, according to DeFiLlama. This growth has translated into revenue, with PumpSwap generating $232k in 24-hour fees on April 16, surpassing its direct competitor Raydium, which recorded $115k in the same period.

PumpSwap's integration with pump.fun, a platform for launching meme coins, allows token creators to migrate projects to the DEX without fees, eliminating the previous 6 SOL charge. This streamlined process has attracted creators and traders, boosting platform activity. Additionally, PumpSwap's fee structure—0.25% per trade, with 0.20% allocated to liquidity providers and 0.05% to the protocol—combined with zero-cost pool creation, has encouraged participation. The platform has also announced plans for a revenue-sharing model for token creators, further incentivizing project development.

PumpSwap operates in a competitive Solana DeFi ecosystem, facing established players like Raydium and emerging platforms like Orca. Raydium, which previously facilitated pump.fun token migrations, maintains a leading position with $622.68 million in daily trading volume, ranking first among Solana DEXs, according to DeFiLlama. Orca, another notable contender, recorded $569.86 million in daily volume. Raydium is also preparing to launch LaunchLab, a token launchpad, intensifying competition with pump.fun.

Despite losing pump.fun's token migrations, Raydium's established user base and liquidity highlight the challenges PumpSwap faces. As a newcomer, PumpSwap must build trust and sustain liquidity to compete with platforms that have years of operational history.

PumpSwap's $2.47 billion weekly trading volume marks a strong start. However, its long-term success still depends on scaling operations, attracting sustained liquidity, and navigating a crowded DeFi landscape.