Pump.fun trading volume climbs 6.3% as its exchange gains

Pump.fun trading volume reached $333.7 million in the 24 hours to 5:46 p.m. ET on Wednesday, while Solana’s total DEX volume fell 24%.

The quick take

Price: Pump.fun ($PUMP) trades at $0.004542, up 4.7% in 24 hours, as of 5:41 p.m. ET.
Trigger: Trades on PumpSwap, the project’s exchange, rose 16% to $193.3 million, per DefiLlama.
Watch: Whether PumpSwap keeps this pace once Solana’s wider DEX trading, down 24% in a day, finds a floor.

What happened

Pump.fun trading volume climbed 6.3% in the latest 24-hour reading, even as most of Solana ($SOL) trading slowed. Pump.fun ($PUMP) runs two venues: the launchpad, where new tokens start, and PumpSwap, the exchange where they trade after launch. Together they handled $333.7 million, up from $313.9 million the day before, according to DefiLlama data read at 21:46 UTC.

The gain came from the exchange. PumpSwap volume rose 16%, from $167.0 million to $193.3 million. The launchpad slipped 4.4%, from $146.9 million to $140.4 million.

The weekly view is softer. PumpSwap handled $1.60 billion over the past seven days, DefiLlama shows, or about $229 million a day. So even after the jump, its latest day sits below that weekly average. The launchpad did $945.5 million over seven days, about $135 million a day, a little under its latest reading.

Across Solana, decentralized exchanges handled $1.58 billion, down 24% from $2.07 billion a day earlier, DefiLlama shows. That leaves Pump.fun’s two venues with about 21% of the chain’s DEX trading. PumpSwap alone took about 12% and ranked second, behind Orca DEX at $209.4 million.

Why it moved

The data does not show a single cause. What it does show is that PumpSwap grew on a day when Solana’s DEX total shrank by about $488 million.

The token moved with the activity. $PUMP traded near $0.0042 for most of the day on Binance’s PUMP/USDT pair. It rose from $0.004204 at 18:00 UTC to $0.004541 at 20:00 UTC, about 8% in two hours. CoinGecko puts its 24-hour gain at 4.7% and its 7-day change at a 10.5% loss.

The wider market gave little push. Bitcoin ($BTC) was nearly flat over 24 hours at about $81,131, according to LiveCoinWatch at 21:42 UTC. That points to activity inside the Pump.fun ecosystem rather than a broad crypto rally.

Jupiter quoted $PUMP at $0.004564 at the same time, within 0.5% of CoinGecko. CoinGecko lists its market value at $2.09 billion and its 24-hour trading volume across markets at $142.6 million.

Who’s buying and selling

On the token’s largest pool, the PUMP/USDC pair on PumpSwap, buyers led. DexScreener counted 8,360 buys against 6,507 sells over 24 hours. GeckoTerminal gave a close second reading of 8,300 buys and 6,467 sells.

That pool holds about $23.9 million in liquidity, per DexScreener. Money parked on PumpSwap as a whole sits at $339.7 million, DefiLlama shows, down 5.9% over the past week.

Busier trading has not lifted income yet. Pump.fun earned $1.33 million in revenue over the latest 24 hours, down 5.1% from $1.40 million, per DefiLlama. Its 7-day revenue stands at $9.11 million.

What to watch next

The next DefiLlama readings will show whether PumpSwap holds near $190 million a day. A drop back below the launchpad’s volume would point to a one-day burst rather than a shift.

Revenue is the other number to follow. Trading rose while revenue fell, so the gap between the two is worth tracking over the week. The buy and sell counts on the PUMP/USDC pool will show whether buyers stay in front after the evening rise.

Bottom line: Pump.fun gained share on a slow day for Solana trading, led by its exchange rather than its launchpad.