PancakeSwap recorded a trading volume of 310 billion USD in 2024, an increase of 179% compared to the same period last year, thanks to the expansion of DeFi and the application of Layer 2.
PancakeSwap has completed a record year in terms of cryptocurrency trading volume, thanks to the growing interest in decentralized exchanges (DEX) and the development of Layer-2 blockchain networks.
In 2024, this DEX platform recorded a total trading volume of 310 billion USD, an increase of nearly 179% compared to 111 billion USD in 2023.
This growth is mainly due to the Layer-2 network Arbitrum and Base, with Arbitrum increasing by 3,656% to 13.2 billion USD, while Base increased by 3,539% to 11.6 billion USD, according to the report from PancakeSwap.
The project team said that the positive sentiment of investors and DeFi trading activity also contributed to this milestone.
In addition, PancakeSwap also witnessed significant growth on several other blockchains, such as Ethereum (up 251%) and BNB Chain (up 155%). Improvements in the user experience, such as the renewed swap interface and the PancakeSwapX tool, also helped drive participation and enhance the user experience.
PancakeSwap is currently the third-largest DEX in terms of monthly trading volume, with over 49 billion USD traded in the past 30 days.
Follow CoinMoi to stay up-to-date on the hottest issues in the crypto market !
The article PancakeSwap reaches a record of 310 billion USD in transactions in 1 year first appeared on CoinMoi.
