Pump.fun Rebounds with PumpSwap After Meme Coin Setbacks

Uk Jin

Summary

Pump.fun's PumpSwap reportedly gained significant popularity, recording a cumulative trading volume of $2.62 billion within two weeks of its launch.
Pump.fun, which saw a decline in revenue due to the meme coin market downturn, has entered a revenue uptrend again following the launch of PumpSwap.
BeInCrypto evaluated that if PumpSwap's low fee strategy succeeds, it could be advantageous in the competition with Solana-based DEXs.

The actions of Pump.fun, a meme coin creation protocol based on Solana (SOL), are drawing attention. Amidst the downturn in the meme coin market, PumpSwap, launched as a solution, is gaining significant popularity.

According to BeInCrypto, a cryptocurrency-focused media outlet, Pump.fun's decentralized exchange (DEX) PumpSwap recorded a cumulative trading volume of $2.62 billion within approximately two weeks of its launch.

The popularity of PumpSwap can also be seen in Pump.fun's revenue. Last year, Pump.fun, which was the hottest platform, faced much criticism from investors due to the worsening sentiment towards meme coins and some celebrity-related meme coins. Consequently, Pump.fun's revenue naturally trended downward. However, since the launch of PumpSwap on the 15th, Pump.fun's revenue has started to rise again.

BeInCrypto stated, "While the trading fees of PumpSwap are indeed a remarkable achievement, it is true that the actual revenue growth of Pump.fun is lacking in comparison," but also evaluated, "If PumpSwap's strategy of low fees succeeds and it can win the fierce competition with Solana-based DEXs, it would be positive."

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