Data from DeFiLlama shows PumpSwap driving record volumes alongside a memecoin resurgence on Solana, though fee revenues remain modest compared to trading activity.
PumpSwap, part of the Pump ecosystem, recorded a 24-hour trading volume of $1.28 billion on Jan. 5, fueled by a revival in Solana's memecoin market. Despite high activity, fees totaled $2.98 million, with $1.21 million in protocol revenue and $881,700 paid to holders. PumpSwap accounted for roughly $1.21 billion of the ecosystem’s daily volume, far surpassing the $63.7 million from Pump.fun’s older route. The surge reflects broader retail interest in high-risk tokens as liquidity improved at the start of the year, though sustained profits remain uncertain.