Solana News Today: PumpSwap Surpasses Raydium With 74% Solana DEX Volume Share

PumpSwap has rapidly emerged as the dominant decentralized exchange (DEX) on the Solana blockchain, capturing 74% of the DEX volume, according to Dune Analytics and CryptoSlate [1]. The platform reported over $251 billion in trading volume over the past 30 days, surpassing competitors like Raydium and Meteora [2]. This shift signals a transformation in Solana’s DeFi ecosystem, where PumpSwap is redefining how memecoins are launched and traded.

The platform’s success is attributed to its deep integration with Pump.fun, a Solana-based memecoin incubator. Tokens graduating from Pump.fun are automatically listed on PumpSwap, bypassing traditional gateways such as Raydium. This streamlined onboarding process offers faster liquidity and lower fees, making it an attractive option for developers and traders [3]. In the last 10 days, PumpSwap processed over $2.43 billion in volume, securing 67% of the market share in the same period [4].

The native token of Pump.fun, PUMP, has also seen notable price activity. As of July 2025, PUMP is trading at around $0.00323 with a 24-hour trading volume of approximately $560 million, representing a 24% increase over the past day [5]. The token’s supply is around 350 billion, with a maximum cap of 1 trillion. Despite a 24-hour rebound, PUMP remains below its all-time high of $0.00681, recorded on July 16, 2025 [6]. Analysts have provided price forecasts assuming sustained trading volume through PumpSwap, with estimates suggesting a potential range of $0.0025 to $0.0065 for 2025, $0.0030 to $0.0080 for 2026, and $0.0050 to $0.0150 by 2030 [7].

However, the rapid growth of PumpSwap and the associated memecoin trading comes with notable risks. On-chain data highlights significant short-term turnover, with daily to monthly volume ratios at 3.2%, indicating speculative activity [8]. Academic research further raises concerns, identifying over 1,000 token pools showing signs of rug pulls or price manipulation. These risks are particularly pronounced for memecoins that lack utility or long-term development plans [9].

PumpSwap’s growth reflects a broader shift in Solana’s DEX landscape. While Raydium still holds the highest cumulative volume at $1.06 trillion, PumpSwap’s $483 billion in volume makes it a formidable contender. Its resilience was further demonstrated on July 28, 2025, when it maintained over $8 billion in daily trading volume despite an 11% decline in the price of SOL over the previous week [10]. This performance underscores PumpSwap’s potential to reshape how tokens are launched and traded on the Solana network.

The platform’s focus on low-cost, high-speed token launches has made it a key player in the memecoin space. Traders benefit from reduced fees and fast liquidity, enabling quick entry and exit strategies. However, users are advised to remain cautious, as many memecoins lack underlying utility and are susceptible to market manipulation [11]. Evaluating token contracts, team transparency, and liquidity locks before trading is essential to mitigate risks.

As PumpSwap continues to gain traction, its influence on Solana’s DeFi ecosystem is expected to grow. The integration with Pump.fun and the platform’s ability to process large volumes quickly position it as a leading DEX for speculative trading. Nonetheless, market participants must remain vigilant, given the volatile and often unregulated nature of the memecoin market [12].

Source: [1] CryptoSlate (https://coinmarketcap.com/community/articles/688b515632fd41286026ce04/)