PumpSwap Hits $100M TVL: Solana’s DeFi Scene Takes a Giant Leap

PumpSwap, a decentralized exchange launched by the Solana-focused Pump.fun incubator, has reached $100 million in total value locked (TVL) just 50 days after its launch. This remarkable feat reflects growing interest in memecoins and fueled by a surge in retail participation and trading activity. Notably, PumpSwap’s leadership chose to remain anonymous, a trend common in the memecoin realm. The achievement has spurred other Solana-based protocols like Raydium to witness increased liquidity shifts as traders move towards PumpSwap offerings.