PumpSwap Surpasses $100 Million TVL Just 50 Days After Launch

PumpSwap, the decentralized exchange (DEX) developed by memecoin launchpad Pump.fun on the Solana blockchain, has officially surpassed $100 million in total value locked (TVL) just 50 days after launch.

Trading Surge Amid Memecoin Revival

Launched on March 19, 2025, PumpSwap was designed as a native trading platform exclusively for tokens that have “graduated” from Pump.fun. Since then, the DEX has witnessed explosive growth in both user count and trading activity.

• Cumulative trading volume has now exceeded $18 billion.

• In May alone, daily trading volume rarely dropped below $500 million, peaking on May 5 with nearly 500,000 active wallets, according to Dune Analytics.

This growth marks a clear resurgence in memecoin trading activity, following a slowdown earlier this year that was partially attributed to the collapse of Libra, a hyped token promoted by Argentine President Javier Milei, which plummeted after a speculative pump.

The Memecoin Market Roars Back

Despite criticism from industry veterans and ongoing concerns over scams, the memecoin ecosystem is demonstrating remarkable resilience. All top 10 memecoins by market cap posted double-digit gains over the past week:

• PENGU surged 230% this month.

• PEPE led the weekly performance with a 40% gain.

While Pump.fun has faced scrutiny for enabling numerous rug pulls and price manipulation, the success of PumpSwap reflects growing user engagement and speculative capital flowing back into this volatile sector.

A Wild West That Won’t Die

It’s worth noting that nearly 99% of tokens launched via Pump.fun have failed, with many suspected of being fraudulent or short-lived. Nevertheless, risk appetite remains high, and investors continue pouring funds into what many still consider the “Wild West” of crypto.