PumpSwap captures 21% of Solana DEX market a week after launch

Solana decentralized Exchange Pumpswap, launched a week ago, exceeded $ 1 billion in volume of cumulative negotiation, capturing 21% market share on the Solana Dex market.

In the past 24 hours, Pumpswap’s negotiation volume has reached more than $ 538 million, while the cumulative volume is currently more than $ 1.2 billion Analytics of the dunes.

Although trading volumes are already impressive, Pumpswap currently captures only 21% of the Dex on Solana market (GROUND), Raydium still leading the market at 57.4%.

Pump announced the launch of Pumpswap on March 20. would have began to test its AMM features at the end of February, which prompted Raydium to launch Its own tokens creation platform, Launchlab, likely to protect its source of income.

While Raydium still has a dominant market share in Solana Dex, Pumpswap has become a solid competitor, especially with the migration of instant pump chips. The tokens launched on Pump Can now automatically migrate to Pumpswap once they have finished their liaison curves. This not only eliminates the heavy migration process to Raydium for token creators, but also removes the six preceding soil migration costs.