PumpSwap, a decentralized exchange (DEX) by Pump.fun, processed $2.5 billion in trades during the week of April 6, reflecting a 40% increase from the previous week.
PumpSwap, a decentralized exchange (DEX) by Pump.fun, processed $2.5 billion in trades during the week of April 6, reflecting a 40% increase from the previous week. Since its launch on March 19, the platform has quickly grown, reaching $98.4 million in total trades. The surge in trading volume was driven by the growing interest in meme coin trading, which PumpSwap aims to facilitate in a frictionless environment.
On April 14, PumpSwap reached a daily trading volume of $412.7 million, followed by a new record of $417.8 million the next day. The platform also saw a significant rise in daily active wallets, reaching nearly 264,500, with over 163,000 being recurring users and 101,000 new users. This increase in user activity indicates that the platform is gaining traction among traders, particularly in the volatile meme coin market.
The platform’s revenue has also seen a sharp rise alongside its trading volume. On April 14, daily fees on PumpSwap hit a record of over $1.05 million, with $840,000 directed to liquidity providers and $210,000 going to the platform’s protocol. Since its inception, PumpSwap has generated a total of $14.2 million in fees, with $3.56 million of that allocated to the protocol. The platform’s fee structure, which includes a 0.25% fee, is helping to sustain its operations while rewarding liquidity providers.
In addition to the platform’s growing trading volume, many users have profited from PumpSwap’s meme coin trading. According to data from Dune Analytics, 506 wallets have earned over $1 million on the platform, and more than 9,000 wallets have made over $100,000. The most profitable wallet in the past 30 days alone has realized gains of nearly $40.6 million. This has led to PumpSwap being seen as a lucrative platform for traders looking to capitalize on the volatility of meme coins.
The success of PumpSwap highlights the increasing demand for platforms that specialize in meme coin trading, especially given the volatility and high-risk nature of these assets. Despite some concerns over the sustainability of meme coins, the data shows that users continue to trade heavily on the platform, and its revenues are growing rapidly. As PumpSwap continues to build its reputation, it could become a key player in the meme coin market, providing traders with the tools and liquidity to engage with this highly speculative sector.
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