PumpSwap hits $100M in TVL as memecoin launchpads see resurgence

PumpSwap, the DEX launched by Solana-based memecoin mill Pump.fun, has deed $100 million successful full worth locked (TVL), marking a caller milestone conscionable 50 days aft its debut.

The grounds comes amid a broader resurgence successful memecoin trading, defying caller predictions of the sector’s illness aft its meteoric growth fizzled retired earlier this year.

Volume boom

Launched connected March 19, PumpSwap was designed to provide a autochthonal trading venue for tokens graduating from Pump.fun’s launchpad.

The level has seen near-continuous maturation successful regular activity, with cumulative trading measurement exceeding $18 cardinal to date.

Daily volumes person seldom dipped beneath $500 cardinal successful May, and the speech deed a precocious of astir 500,000 regular progressive wallets connected May 5, according to Dune Analytics data.

PumpSwap’s emergence coincides with a notable uptick successful recurring idiosyncratic enactment and regular swap volume, indicating sustained engagement.

The maturation comes aft a play of stagnation earlier this year, triggered successful portion by a scandal involving Argentine President Javier Milei and a Libra memecoin that plummeted aft a promotional station connected his authoritative X account.

Memecoin resurgence

Despite high-profile dismissals from manufacture figures, the memecoin assemblage is mounting a comeback, with blue-chip tokens posting important gains implicit the past week.

Every 1 of the apical 10 memecoins by marketplace headdress is up treble digits connected the week, with PENGU surging 230% implicit the past period and PEPE starring play gains with implicit 40% growth.

Pump.fun, erstwhile dismissed aft a question of rug pulls and pump-and-dump accusations, present finds its DEX thriving amid this unexpected revival.

Despite the resurgence, astir 99% of Pump.fun launched memecoins proceed to fail, with a immense percent exhibiting fraudulent behavior.

However, the influx of users and superior suggests that the speculative appetite successful crypto’s astir chaotic country remains acold from extinguished.

The station PumpSwap hits $100M successful TVL arsenic memecoin launchpads spot resurgence appeared archetypal connected CryptoSlate.