PancakeSwap has climbed to the top spot in decentralized exchange (DEX) rankings, hitting a record $14 billion in weekly trading volume.
This marks a 58.04% increase in activity, according to CoinMarketCap data.
For the latest DeFi trends, check out TheCoinInfo.
BNB Chain’s DEX Overtakes Uniswap
The surge has given PancakeSwap a 29.18% market share among DEXs, outperforming Ethereum-based Uniswap, which saw a sharp 50.56% drop in trading volume, now at $8.611 billion.
Despite Uniswap maintaining a higher total value locked (TVL) of $3.93 billion, PancakeSwap’s lower BNB Chain fees and faster transactions appear to be attracting more users.
Raydium and Other DEXs Decline
Notably, other major platforms saw declines:
- Raydium (Solana-based) trading volume dropped 24.75%
- Meteora saw a 33.03% decline
- Fluid dropped 52.76%
Meanwhile, BNB Chain-based meme coins have helped boost PancakeSwap’s trading activity. Some of the top-performing tokens on the platform include:
- BNB Card → +298% in 24 hours
- Mubarakah → +197%
- CUZ → +110%
- SIREN → +15.67%
However, not all tokens thrived, with BUBB down 24.99% and Tell A Tale down 19.56%.
CAKE Token Gains 56.2% in Two Weeks
PancakeSwap’s native token, CAKE, has surged 40.6% in the past week and 56.2% over two weeks. However, it recently saw a minor 0.5% pullback but remains 3.1% up over 30 days.
Beyond token swaps, PancakeSwap has expanded into perpetual trading, prediction markets, NFTs, and lotteries, strengthening its DeFi ecosystem and attracting both retail and institutional traders.
For more in-depth DeFi coverage, visit TheCoinInfo.
