Data from Dune Analytics reveals that Pumpswap also set new records for engagement, with 220,206 active wallets on a single day and generating $1.46 million in fees. Of this amount, $292,216 came from protocol fees, bringing the total lifetime protocol revenue to $3.09 million.
However, despite these milestones, Pumpswap’s market share is at 19.9%, while Raydium remains the dominant player with a 45.5% share. This highlights the challenge that Pumpswap faces in its efforts to expand its presence in the sector.
With its rapid growth and aggressive fee capture strategy, Pumpswap is positioning itself as a serious competitor within Solana’s DeFi ecosystem. While it remains to be seen if it can surpass Raydium, its early success suggests it is a contender worth watching.
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