The analytical company CryptoRank shared the latest data on activity in the decentralized finance (DeFi) sector on Twitter, highlighting projects with the highest number of active users over the past month. Among them, PancakeSwap emerged as a leader, attracting a significant number of users.
As of February 7, 2024, a slight decrease in the total number of active DeFi users by 0.05% was recorded, however, PancakeSwap showed impressive results with 1.69 million users, surpassing projects such as Jupiter with 1.26 million and SyncSwap with 922 thousand users. Projects Uniswap and Stargate also earned a place in the top five leaders, confirming their popularity and activity among users.
The list of the 15 most popular DeFi platforms also includes Raydium, L2Pass, Odos, Maverick Protocol, 1inch, WOOFI, Mute, Jumper, 0x Protocol, and Wormhole, illustrating the wide range and dynamics of development in this sector.
PancakeSwap, operating on the BSC blockchain unlike Ethereum, offers extensive opportunities for trading cryptocurrencies, as well as participation in farming and staking. One of the key features of the platform is the automatic liquidity provider model, which allows users to invest funds and earn income in the form of CAKE tokens for active participation in the ecosystem.
