In the fast-paced world of decentralized finance on Solana, a new player is making waves even before its full launch. According to a recent tweet from SolanaFloor, Pacifica has surged ahead of established giants like Jupiter in 24-hour perpetual trading volume, all while still operating in closed beta. This development highlights the growing competition in Solana's perp DEX market and could have big implications for traders, especially those dabbling in volatile meme tokens.

The Breaking News from SolanaFloor

The tweet, posted on September 29, 2025, reads: "🚨JUST IN: @pacifica_fi, a new entrant in Solana’s perpetual DEX market, which is still in closed beta, has surpassed Jupiter in 24H trading volume to become the largest perp DEX on the network." Accompanying the announcement is a screenshot showing Pacifica at the top with $443.22 million in volume, followed by Jupiter at $375.02 million and Drift at $176.15 million. All three operate on a single chain, underscoring Solana's dominance in high-speed, low-cost DeFi applications.

This isn't just a minor shuffle—it's a sign of shifting dynamics in perpetual futures trading, where users can take leveraged positions on assets without expiration dates. For context, perpetual DEXs (decentralized exchanges for perps) allow traders to bet on price movements of cryptocurrencies, including popular meme tokens, using leverage to amplify gains (or losses).

What is Pacifica? A Quick Overview

Pacifica is a Solana-based perpetual contract DEX founded in January 2025 by a team including former FTX Chief Operating Officer Constance Wang. Launching its testnet just two months after inception and going live on mainnet by June 10, 2025, Pacifica has quickly gained traction. By August, it boasted daily trading volumes over $50 million and more than 1,000 active users.

What sets Pacifica apart? It combines Solana's high throughput for lightning-fast executions with user-friendly design and AI-driven trading tools. These features let even novice traders execute complex strategies easily. The platform positions itself as a "next-gen hybrid exchange," blending top-tier performance with smart automation—perfect for the volatile world of crypto.

Despite its closed beta status, where access is limited (often via referrals, as seen in replies to the tweet), Pacifica is already handling volumes that rival open platforms. One reply to the tweet humorously noted, "Closed beta out here doing open beta numbers. Wild." This restricted phase ensures regulatory compliance, with warnings about unavailable services in certain jurisdictions.

How Pacifica Stacks Up Against Jupiter and Drift

Jupiter, known for its aggregator features in spot trading, has expanded into perps and held a strong position on Solana. Drift, another veteran, focuses on advanced trading mechanics. But Pacifica's rapid rise suggests it's capturing market share through better latency, AI assistance, and perhaps influencer promotions—drawing speculation about ties to former FTX executives.

In the screenshot, the volumes speak volumes: Pacifica's lead isn't marginal; it's a clear indicator of user migration or new inflows. For Solana enthusiasts, this competition drives innovation, potentially lowering fees and improving liquidity across the board.

Implications for Meme Token Traders

At Meme Insider, we're all about how blockchain developments impact meme tokens—the fun, viral side of crypto that often sees wild price swings. Perpetual DEXs like Pacifica are crucial here because they enable leveraged trading on meme assets. Imagine going long on a hot new Solana meme with 10x leverage without leaving the decentralized ecosystem.

With Pacifica's AI tools, traders can automate strategies for meme pumps or dumps, analyzing trends in real-time. Higher volumes mean better liquidity, reducing slippage on trades—key for memes where timing is everything. As Solana hosts countless meme projects, a top-tier perp DEX could supercharge community-driven rallies, making it easier for retail traders to participate.

However, remember the risks: leverage amplifies losses, and in closed beta, access might require invitations (check replies for referral codes if you're interested). Always trade responsibly.

Looking Ahead: The Future of Solana Perps

This milestone for Pacifica could signal a broader trend toward more sophisticated DeFi tools on Solana. As the platform moves toward open beta or full launch, expect even higher volumes and perhaps token integrations for rewards. For now, it's a reminder of Solana's edge in scalability, attracting builders from legacy exchanges like FTX.

Stay tuned to Meme Insider for more updates on how these shifts affect your favorite meme tokens. If you're trading perps, keep an eye on Pacifica's app for when it opens up.

For the original tweet and discussion, check it out here.