You Won’t Believe How Much Pump.Fun’s PumpSwap DEX Moved Last Week 😱

by

If you’re the kind of person who believes nothing truly astounding happens on the internet anymore—other than perhaps another Kardashian launching a skincare line for pets—let me introduce you to PumpSwap, the digital playground for memecoin fanatics and questionable life decisions everywhere. Last week, they saw $2.5 billion worth of trades. That’s right: billion with a “B.” I did the math (once, in eighth grade), and apparently billions are a lot.

According to the ever-watchful spreadsheet cam at DefiLlama, PumpSwap turned up the volume by 40% over the previous week. Let’s translate: from $1.8 billion to $2.5 billion. If this trend continues, Andrew Carnegie will be back from the grave in the form of a dancing dog meme.

If you’re just joining us (either because you’ve been in a coma, or you took a “prolonged nap” after losing all your savings in Dogecoin), Pump.Fun’s PumpSwap was set loose on March 19, pitched as a “frictionless environment” for trading the world’s finest “memecoins.” In reality, it’s sort of like letting a group of toddlers play the stock market with Monopoly money, except here everyone swears they’re a genius. They broke $1 billion in volume in their first week. If envy really is green, their competitors must look like bowls of guacamole by now.

Now, for my favorite part: cold, hard numbers that make my high school math scores blush with shame. Data-worshippers over at Dune say that on April 12, PumpSwap made over 6.1 million trades in a single day—most people don’t even respond to 6.1 million spam emails in a decade. On April 14, they racked up another 5.7 million swaps and, just to flex, nearly 264,500 active wallets were doing their thing. That’s right: 163,000 people keep showing up like they’re at the world’s tackiest club, and 101,000 new faces joined in to ask if anyone’s “seen the lambos yet.”

If you think that’s a lot of digital elbow rubbing, wait for this: on April 15, PumpSwap smashed its daily volume record, topping $417.8 million. The prior day’s record? $412.7 million. I imagine there’s a support group for DEXs who just can’t keep up. They probably meet every Tuesday on a chain no one remembers.

Revenues are growing alongside volume

And where there’s wild unregulated trading, there are… fees. Because, come on, somebody has to buy the swimming pools shaped like Doge faces. On April 14, daily fees broke a record too: over $1.05 million, with $840,000 tossed to liquidity providers—the unsung heroes who apparently didn’t get the memo about better hobbies—and $210,000 finding its way into the protocol’s retirement fund. Somewhere, an accountant is quietly weeping tears of joy (or terror).

For you fee aficionados: ParaSwap gets 0.25% per trade—0.2% snuggled to liquidity providers and 0.05% to the main protocol. In total, they’ve racked up $14.2 million in lifetime fees, $3.56 million of which is presumably being used to wallpaper someone’s virtual yacht.

Pump.Fun making millionaires

But don’t get the idea that only the developers are laughing all the way to the NFT bank. New data says 506 wallets have walked away with over $1 million each, and more than 9,000 wallets made over $100,000. These are the people who will one day insist they “got in early” at every barbecue you attend for the next decade. 🥩🤑

Oh, and just to make it sting: in the last 30 days, the single most profitable wallet nabbed almost $40.6 million. Meanwhile, I’m still trying to cash out my airline miles for a bag of peanuts.

Read More

2025-04-15 16:40