Pump Leads DEX Volume Across All Chains Ahead of $135M Token Unlocks

Pump.fun, arguably the most successful and polarizing crypto application of all time, is once again topping volume charts and asserting itself as the industry’s most popular spot trading venue.

With $ANSEM soaring to blistering new all-time highs, pump leads DEXs across all chains in 24hr volume. Unsatisfied with watching from the sidelines, BNB Chain’s resident memecoin traders are piggybacking the $ANSEM, attempting to siphon liquidity and attention away from Solana.

Pump’s resurgence of memecoin activity comes at an opportune moment. As volume, revenue, and buybacks climb higher, markets are still trying to price in the unlock of 82.5B $PUMP tokens, currently valued at $135.7M

Pump Records $725M in Daily Volume

Two weeks ago, Ansem promised to ‘CTO Solana’ and kickstart a ‘return to memes’ that would revive the onchain economy. Several billion dollars in trading volume and a $350M runner later, Solana’s memecoin circuit is thriving once again, with a reported 517,000+ wallets interacting with DEXs.

Amidst the frenzy of activity, Pump.fun leads daily trading volume across the entire industry. According to DefiLlama, Pump has recorded over $725M in volume, eclipsing rivals like Uniswap, which currently operates on 46 different chains.

Despite Solana’s DeFi’s best efforts to reinvent itself as the home of tokenized stock trading, the memecoin renaissance has certainly proven the popularity of the asset class. Where tokenized assets briefly commanded 19% of daily market share, memecoins have reclaimed their position as the network’s most actively-traded asset class outside of SOL-Stablecoin pairs.

82.5B $PUMP Tokens to Enter Circulation on July 12

Despite Ansems’ best attempts to bully pump.fun into distributing its eagerly awaited airdrop, $ANSEM’s success has certainly bolstered pump’s activity. Since the $ANSEM run began on June 27, pump’s revenue and weekly DEX volume have risen by 32.2% and 57.2% respectively since early June.

For $PUMP, the timing is impeccable. One year on from its TGE, Tokenomist data indicates that $PUMP is about to begin its vesting schedule. 

82.5B $PUMP tokens, currently valued at $135.7M and allocated to the team and investors, is set to be released into circulation on July 12.

[​​https://x.com/mdudas/status/2073796681137614965]

For many traders and investors, upcoming $PUMP unlocks represent a looming threat over markets. However, early investors like 6th Man Ventures Managing Partner Mike Dudas are adamant that $PUMP is still far from what he would call a “rational valuation”, suggesting that $PUMP may not suffer immediate sell pressure following the initial unlocks.

$ANSEM Reignites Solana vs BNB Chain Meme Rivalry

Meanwhile, the reawakening of Solana’s memecoin economy has inspired similar activity from the network’s cross-chain rivals, namely from those on BNB Chain. Seeking to piggyback off $ANSEM’s success, a number of copycat tokens have spawned on BNB Chain, with tokens like $CZ and $TCC trying to share in the success.

However, despite surging volumes, BNB-based coins are struggling to create the same momentum and valuation as their rivals on Solana. After peaking at an FDV of $87M, BNB Chain’s leading coin within this meta, $CZ, has dropped over 50%, plummeting to a market cap of $39M.

Critics have noted that BNB Chain has so far been unable to manufacture a unique identity within its memecoin trenches, meaning that traders are left scrambling to try and replicate successful metas on competing chains.

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