• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

PancakeSwap Leads the DEX Market

user avatar

by Giorgi Kostiuk

8 months ago

PancakeSwap has officially become the largest decentralized exchange by 24-hour trading volume among DEXs, boasting $1.64 billion in daily trades.

Why PancakeSwap is Leading the DEX Market

PancakeSwap's 24-hour trading volume has surged by 110% over the week, establishing it as the largest DEX. Several factors contribute to this dominance.

Factors Driving PancakeSwap's Growth

1. Binance Investment: The platform, a major DEX on the BNB Chain, benefits directly from Binance's $2 billion investment in Abu Dhabi's MGX. 2. Memecoin Popularity: The rise in memecoin interest has brought more traders to the platform, attracted by low fees. 3. Layer-2 Expansion: Aggressive Layer-2 and multi-chain integrations have boosted trading volumes, increasing accessibility.

New Features and Their Impact

PancakeSwap introduced PancakeSwapX and the SpringBoard tool to simplify token creation, attracting more developers and enhancing DeFi accessibility.

Strong backing from Binance, growing Layer-2 adoption, and strategic feature upgrades position PancakeSwap as a key player in the evolving DEX landscape.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Altcoins Experience Significant Gains Amid Bitcoin Recovery

chest

Altcoins, including ZEC and XMR, have shown significant gains amid Bitcoin's recovery, with ZEC rising by 14% and XMR by 16%, contributing to a total market cap increase of over 60 billion.

user avatarLi Weicheng

Aptos Faces Decline in Network Activity as Engagement Weakens

chest

Aptos has experienced a significant decline in network activity, with a drop in active addresses and total value locked, raising concerns about its long-term growth potential.

user avatarMaya Lundqvist

Bitcoin Price Recovery Continues Over the Weekend

chest

Bitcoin's price has climbed past 86,000 after hitting a low of 81,000 on Friday.

user avatarLeo van der Veen

Top Altcoins According to LunarCrush Altrank

chest

The top altcoins according to the LunarCrush Altrank include Bitcoin Cash BCH, ChainOpera AI COAI, and others, showcasing a rise in social media attention.

user avatarAisha Farooq

World Liberty Financial Leads Altcoin Surge

chest

World Liberty Financial WLFI has emerged as the top altcoin according to the LunarCrush Altrank metric, reflecting a significant rise in social activity.

user avatarTenzin Dorje

Binance LongShort Ratio Hits 23x, Indicating Growing Long Imbalance

chest

The Binance longshort ratio has reached an unprecedented 23x, indicating a strong preference among traders for long positions, which may lead to increased market volatility.

user avatarBayarjavkhlan Ganbaatar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.