PumpSwap Reaches $100M in Total Value Locked as Memecoin Launchpads Make a Comeback

PumpSwap Hits $100 Million TVL, Marking Big Milestone in Memecoin Trading

PumpSwap, a decentralized exchange (DEX) launched by the Solana-based memecoin platform Pump.fun, has reached $100 million in total value locked (TVL) just 50 days after its launch.

This achievement comes during a rebound in memecoin trading, surprising many who thought the sector would collapse after its rapid growth slowed down earlier this year.

Growth and Trading Volume

Launched on March 19, PumpSwap was created to offer a platform for trading tokens from Pump.fun’s launchpad. Since then, it has seen steady growth, with trading volumes surpassing $18 billion.

In May, daily volumes have stayed above $500 million, and on May 5, the platform hit nearly 500,000 daily active wallets, according to Dune Analytics.

PumpSwap's rise shows that users are staying active, with a strong increase in both daily activity and trading volume.

Memecoin Comeback

The memecoin market, despite previous doubts, is bouncing back. The top 10 memecoins by market cap have all gained in value, with tokens like PENGU jumping 230% in the last month and PEPE leading with a 40% increase over the past week.

Pump.fun, once criticized for past issues like rug pulls and pump-and-dump schemes, is now seeing success with its DEX during this unexpected memecoin revival.

Challenges Remain

Even though PumpSwap is thriving, nearly 99% of the memecoins launched by Pump.fun continue to fail, with many showing signs of fraud. Still, the growing user base and investment suggest that interest in speculative crypto projects, especially in the memecoin space, is far from over.