• 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

a year 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

Ripple Expands Partnership with Zand in UAE

chest

Ripple has announced an expanded partnership with UAE-based digital bank Zand to enhance the digital economy through stablecoins and blockchain solutions.

user avatarDiego Alvarez

Saylor Addresses Liquidation Concerns Amid Bitcoin Price Fluctuations

chest

Michael Saylor addresses concerns about potential liquidation of Bitcoin assets, assuring that the firm has enough cash reserves to cover 25 years of debt and dividends.

user avatarMaria Fernandez

Michael Saylor Reaffirms Strategy's Commitment to Bitcoin Amid Losses

chest

Michael Saylor, chairman of Strategy, reaffirms the firm's commitment to buying Bitcoin indefinitely despite over $5 billion in paper losses.

user avatarKenji Takahashi

Bankman-Fried Challenges FTX Bankruptcy Claims from Prison

chest

Bankman-Fried challenges FTX bankruptcy claims from prison, asserting the company was not insolvent and that he did not authorize the bankruptcy filing.

user avatarGustavo Mendoza

Sam Bankman-Fried Seeks New Trial Amid New Witness Testimony

chest

Sam Bankman-Fried has filed a request for a new trial in New York, arguing that new witness testimony could undermine the government's case against him.

user avatarRajesh Kumar

Sam Bankman-Fried Seeks New Trial After Firing Attorney

chest

Convicted fraudster Sam Bankman-Fried has requested a new trial in Manhattan after firing his attorney, claiming the discovery of new evidence.

user avatarMiguel Rodriguez

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.