**PumpSwap Seizes 21% of Solana DEX Market Stake in Launch Period**
PumpSwap has created a stir in the Solana decentralized exchange (DEX) space, obtaining 21% of the market stake within its initial week, according to Dune Analytics.
The platform has noticed outstanding transaction amounts, exceeding $538 million in the last 24 hours alone, with a total trading amount surpassing $1.2 billion. This quick expansion puts PumpSwap as a powerful rival in the Solana DEX environment.
While PumpSwap’s trading amount is significant, Raydium proceeds to control the Solana (SOL) DEX market with a leading 57.4% market stake. Its leading position appears safe for the moment.
Pump.fun revealed PumpSwap on March 20th, following testing of its Automated Market Maker (AMM) features since late February. This action prompted Raydium to introduce its own token creation platform, LaunchLab, likely in an effort to guard its income streams and strengthen its market supremacy. Dogecoin price analysis: Open interest exceeds $1.9 billion, indicating potential instability
Despite Raydium’s sustained supremacy, PumpSwap has surfaced as a frightening opponent, especially because of its instant token migration feature from Pump.fun. Tokens launched on Pump.fun can now automatically migrate to PumpSwap upon completion of their bonding curves. This removes the troublesome migration process to Raydium and waives the previous 6 SOL migration charge, giving PumpSwap a substantial benefit.
