PumpSwap displaced Native Swap to become the third-largest decentralized exchange by 24-hour trading volume, according to on-chain data tracked by DefiLlama. PumpSwap recorded $681.8 million in volume, edging Native Swap's $641.7 million.
The $40.1 million gap represents a single-day ranking shift. PumpSwap held the fourth position in the prior 24-hour window, meaning the exchange moved up one rank in less than a day. The metric captures spot trading activity only and fluctuates with market conditions and user routing patterns.
DEX volume rankings remain volatile across intraday windows. DefiLlama aggregates volume data across Ethereum, Solana, Polygon, Arbitrum, Avalanche and other chains. PumpSwap's ascent to third place follows months of competition among mid-tier exchanges as users fragment across chains and venues.
Native Swap and other exchanges in PumpSwap's tier typically see daily volume swings of hundreds of millions of dollars. The ranking applies only to the measured 24-hour period and does not indicate a sustained shift in market share. Exchanges can drop or gain positions within hours as trading demand redistributes.
Total decentralized exchange volume across all platforms on July 29 and July 30 would determine whether this single ranking represents a broader trend or a temporary concentration of trades.
If PumpSwap remains in the top three by 24-hour volume through the end of the week, it would indicate sustained user preference for the exchange relative to peers in its category.
