PumpSwap Surges to $18B in 50 Days, Driving Solana and Memecoins
PumpSwap, the decentralized exchange (DEX) launched by Pump.fun, has surged in popularity, handling over $18 billion in volume in just 50 days. This success has contributed to the resurgence of Solana and the rise of memecoins as significant drivers of network activity.
PumpSwap's daily volume has been consistently high, dipping below $500 million only once in May 2025. This impressive performance has established it as a leading DEX for memecoin traders, setting the stage for further innovation.
Memecoins, once overlooked, are now proving their worth, fueling demand for Solana's core infrastructure. Pump.fun's TVL grew from under $20 million to $100 million in a short period, reflecting strong user engagement and increasing capital inflows. On May 5, 2025, PumpSwap hit an all-time high of nearly 500,000 active wallets, with recurring users steadily increasing.
Pump.fun's success is attributed to its gamified, low-barrier approach, enabling near-instant deployment of meme tokens and swift access to a community of enthusiastic traders. Alon Cohen, the co-founder of Pump.fun, has been instrumental in driving this growth, although the exact founding date of the platform is not explicitly stated.
PumpSwap's remarkable performance and the rising influence of memecoins have solidified Solana's position in the DeFi and NFT spaces. With Pump.fun's TVL reaching $100 million in less than two months, the platform appears well-positioned to continue capitalizing on the memecoin trend and potentially shape the next phase of DeFi's evolution.
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