Solana News Today: PumpSwap Drives 30-Day $251.41 Billion Solana DEX Volume Surge

Solana’s decentralized exchange (DEX) ecosystem has experienced a dramatic surge in activity in July, driven largely by a spike in memecoin trading and the rapid rise of PumpSwap as the dominant trading venue. Despite a nearly 11% decline in the price of SOL—from a peak of $205.81 to $183.13 in the final week of July—the overall trading volume on Solana’s DEXs has remained resilient, demonstrating a shift in user behavior toward speculative, high-frequency trading [1].

PumpSwap, which has gained traction for its streamlined and minimal-rules token listing process, now accounts for over 70% of daily Solana DEX volume. On July 28 alone, PumpSwap processed $16.8 billion in trades—nearly six times Raydium’s daily volume of $2.9 billion. This trend underscores a growing preference among traders for platforms that prioritize speed and accessibility over traditional vetting procedures [1].

While Raydium remains the leading platform for token creation, hosting 65% of new trading pairs on July 21, it has lost significant market share in actual trading volume. By July 28, only 12.6% of Solana DEX trades occurred on Raydium, highlighting a divergence between token launches and execution. This shift reflects broader changes in the Solana DeFi landscape, where developers use Raydium for initial listings while traders opt for PumpSwap for liquidity and execution [1].

The high velocity of trading on PumpSwap is evident in its liquidity turnover ratio, which stands at 3.2%, slightly lower than Raydium’s 3.5% but with a much higher absolute daily volume. This indicates a market dominated by short-cycle, speculative activity where traders rapidly enter and exit positions. Such behavior is particularly prevalent in the memecoin segment, where low barriers to entry and high volatility attract a new wave of retail investors [1].

Orca and Meteora, while not leading in daily trading volume, maintain a steady flow of transactions, with Orca reporting $5.11 billion in weekly volume and Meteora $3.43 billion. These platforms appear to cater to more stable user bases, such as arbitrage traders and liquidity providers, rather than the fast-moving speculators that drive PumpSwap’s growth [1].

The surge in DEX activity is also evident in the broader trends. In the last 30 days, PumpSwap reported $251.41 billion in volume—far outpacing Raydium’s $34.96 billion. While Raydium still holds the all-time volume record with $1.06 trillion, PumpSwap’s $483.9 billion in lifetime volume suggests it is rapidly closing the gap [1].

The relationship between token listings and SOL price remains strong, with SOL peaking the same week token creation hit its highest point. However, as the frequency of new token launches has declined, so too has the price of SOL, indicating that while listings drive price momentum, trading volume is increasingly driven by speculation rather than fundamentals [1].

Overall, Solana’s DEX ecosystem is undergoing a transformation. The dominance of PumpSwap signals a move toward high-volume, high-risk trading, with short-term speculation fueling most of the activity. This trend shows no sign of abating, with Solana DEX volume remaining robust despite price fluctuations. As the market continues to evolve, the lines between token launch platforms and execution venues are blurring, reshaping the competitive landscape of Solana’s DeFi ecosystem [1].

Source: [1] Solana DEX Volume Soars as PumpSwap Captures, [https://thebitjournal.com/solana-dex-volume-soars-as-pumpswap-captures/](https://thebitjournal.com/solana-dex-volume-soars-as-pumpswap-captures/)