Bull run.fun Introduces PumpSwap on Solana: Could This Signal the Conclusion of Raydium (RAY)?

In the absence of Price surge.fun and meme coins, Solana might have been trailing behind Ethereum and Tron. The arrival of meme coins such as Bonk and BOME changed the scenario, with SOL prices recovering from their 2022 lows of approximately $8 to achieving new all-time highs in January 2025.

Price surge.fun and the Emergence of Meme Coins on Solana

Pump.fun has effectively positioned Solana as the primary distributed ledger for meme token launches. To create an SPL token that can be exchanged for SOL, essentially, you need to navigate to the Price surge.fun website and select a ticker name, symbol, and an image.

Following a few simple steps, your meme coin will go live, and if you happen to catch a break—let’s say Elon Musk gives your token a shout-out or a developer takes notice—you could thrive, even “graduate” to being listed on Raydium.

As more users began creating meme coins on Solana through Pump.fun, the protocol became the most lucrative platform on Solana.

Moreover, there was an additional impact: tokens exceeding a crypto market cap of $69,000 that graduated to Raydium helped the DEX emerge as one of the best-performing protocols, generating millions in revenue as traders exchanged in search of the next top Solana meme coins to purchase.

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Price surge.fun Announces PumpSwap Is Operational

This exceptional performance might soon be a thing of the past for Raydium now that Bull run.fun has declared the launch of their own DEX, called PumpSwap.

In an news on X, Pump.fun stated that PumpSwap will serve as a token-swapping network powered by its own liquidity pools, placing it directly in competition with other DEXes, particularly Raydium, which has been a long-standing center for meme coin transactions, benefiting from the Price surge.fun surge.

Introducing PumpSwap, Pump’s new native DEX

beginning NOW all coins that complete their bonding curve will migrate directly to PumpSwap

PumpSwap enables
– instant migrations
– 0 migration fees (down from 6 SOL)
– more market fluidity
– creator revenue sharing (coming soon)

& more pic.twitter.com/T9BkmmaVVS

— price surge.fun (@pumpdotfun) March 20, 2025

Per Price surge.fun developers, the intent is to improve the user experience, with one method being the reduction of unnecessary friction.

Consequently, rather than tokens with a market cap of at least $69,000 migrating and listing on Raydium, they will now be directly listed on PumpSwap without any extra fee. In the past, migrating protocols incurred a fee of 6 SOL. All migrations will also be instantaneous.

As an incentive for meme coin traders to transition to PumpSwap, developers mentioned that a share of their revenue will soon be distributed to coin creators. Trading network fees will be set at 0.25%, with 0.20% allocated to available volume providers and the remaining 0.05% going to the DEX.

On X, a co-founder of Price surge.fun expressed their desire to “reach the next level” and are currently “relentlessly decreasing barriers and friction points.”

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A Setback for Raydium?

Whether Raydium was a hindrance to their success remains to be determined. What is evident is that this development is a significant setback for the well-known Solana DEX.

For several months, Raydium has been synonymous with meme crypto token exchanges on Solana. During this time, RAY, the native governance crypto token, became one of the most desirable cryptos to acquire. 

It is estimated that, on average, they generated 36% of their trading volume from Pump.fun each month.

By the end of 2024, Raydium recorded about $154 million in revenue, nearly half of which came from Price surge.fun. With tokens now moving to trade on PumpSwap instead of Raydium, this implies that Raydium will forfeit a significant portion of its trading volume and earnings.

Shortly after the update, RAY dipped, declining 11%, according to Coingecko data.

Can Raydium Maintain Its Position?

Yet, all hope isn’t entirely lost.

This week, Raydium unveiled LaunchLab, a platform that competes with Bull run.fun, though their goal is not to “poach Pump.fun users.”

It includes features like a flexible bonding curve and multi-token support, allowing for tokens beyond Solana.

Additionally, the launchpad offers seamless market fluidity integration, ensuring competitiveness for the DEX while also fending off challengers.

Raydium claims that LaunchLab is “much more versatile” and will incorporate the DEX’s LP locker for Fee Key NFTs, which secures market fluidity to guarantee swap fees indefinitely.

Beyond the launchpad, it may require time for PumpSwap to gain traction. Raydium already has established popularity and a wider user base. According to DeFiLlama, it oversees over $1.1 billion as of late March 2025.

Raydium also caters to other areas, including Decentralized finance, rather than focusing solely on meme coins, which Price surge.fun intends to hack following the launch of PumpSwap.

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The post Pump.fun Launches PumpSwap on Solana: Is This the End of Raydium (RAY)? appeared first on 99Bitcoins.