Solana's PumpSwap DEX Volume Grows

Solana's PumpSwap DEX has surged to $3.45 billion in daily trading volume, making a major impact on the network’s DeFi scene.

On April 20, 2025, PumpSwap, a decentralized exchange built on Solana and developed by Pump.fun, saw a massive spike in activity. The platform reached $3.456 billion in trading volume within 24 hours, marking it as the second-largest DEX on Solana after Raydium. With over 200,000 daily active users, PumpSwap has quickly gained traction, now holding an 18.2% market share.

This growth signals a shift in Solana’s DeFi landscape, as users are drawn to PumpSwap for its low transaction fees and ease of token migration, generating nearly $948,000 in daily fees. Analysts are watching closely as this platform potentially reshapes competition in the space, especially with hints at a future revenue-sharing model that could further boost adoption.