In recent months, interest in decentralized exchanges (DEX) has significantly increased, especially for PancakeSwap which shows notable trading volumes.
Trading Volume on PancakeSwap and Other DEXs
In the last 30 days, the trading volume on decentralized exchanges was $188.186 billion. PancakeSwap leads with a volume of $7.389 billion in the last 24 hours and $44.721 billion in the past week. This accounts for about 43-44% of the total DEX volume. In comparison, Uniswap has a volume of $96.438 billion, Raydium $27.603 billion, and Curve DEX $7.37 billion.
Revenue and Fees of PancakeSwap
PancakeSwap also leads in revenue collection, generating $123.62 million in the last 30 days, with an annualized revenue of $1.05 billion. In July, the collected fees amounted to $447.46 million. In comparison, Meteora collected $126.69 million, while Uniswap gathered $97.81 million.
TVL Changes of PancakeSwap in 2023
Since the beginning of 2023, PancakeSwap's TVL has shown notable volatility. In January, the TVL was below $2 billion, then it dipped below $1.5 billion in March. A gradual recovery began in April, continuing through June and July, and by the end of July, the TVL rebounded close to the $2 billion mark again.
Thus, PancakeSwap is showcasing significant growth in interest and trading volume on decentralized exchanges, which indicates its resilience and popularity among users.
