Pumpswap, a Dex launched by Solana-based Memecoin Factory Pump.fun, has reached a $100 million total lock (TVL), marking a new milestone just 50 days after its debut.
The record comes amid a wider revival in Memocoin trading, which violates recent forecasts of the sector's collapse after the meteoric growth began leaking earlier this year.
Volume boom
Released on March 19th, Pumpswap is designed to provide a native trading venue for tokens graduates from Pump.Fun's LaunchPad.
The platform has experienced near-consecutive growth in daily activities, with cumulative trading volumes exceeding $18 billion so far.
Data from Dune Analytics shows that on May 5th, it rarely fell below $500 million in May.
Pumpswap's Rise coincides with a repetitive user activity and a notable rise in daily swap volume, indicating sustained engagement.
Growth comes after a period of stagnation earlier this year. This was partly caused by a scandal involving Argentine President Javier Mairei and Libra Memocoin, which plunged after a promotional post on his official X account.
Memecoin's return
Despite famous layoffs from industry figures, the Memecoin sector is increasing its comebacks, with Blue Chip Tokens having made significant profits over the past week.
All of the top ten memokines by market capitalization are up double digits per week, Pengu has surged 230% over the past month, while Pepe has grown by over 40%, leading weekly profits.
Pump.Fun found Dex thriving amid this unexpected revival as waves of rugs were pulled and fired after a wave of pump and dump accusations.
Despite the revival, almost 99% of Pump.Fun's launch Memecoins continue to fail, with a huge percentage showing fraudulent behavior.
However, the influx of users and capital suggests that Crypto's most chaotic corner speculative appetite is far from extinguishing.
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