PancakeSwap overtakes Uniswap as leading DEX with $14b weekly volume
Pancakeswap claimed the first position in the Global DECENTRALIZED EXCHANGE (DEX) classification, reaching more than $ 14 billion in weekly trading volume.
According to CoinmarketCap data, Pancakeswap (CAKE) saw an impressive increase of 58.04% of the activity during last week.
BNB (Bnb) DEX based on the chain now represents 29.18% of all decentralized exchange exchange, with a weekly volume of $ 14.168 billion and a daily negotiation volume (TVL) of $ 1.67 billion.
This increase in activity helped Pancakeswap to exceed Ethereum (Ethn) – Uniswap based (UNITED), which experienced a 50.56% drop in weekly trading activity. The negotiation volume fell to $ 8.611 billion despite the maintenance of a higher TVL of $ 3.93 billion.
Raydium, based in Solana, saw a drop of 24.75%
While Pancakeswap has won the volume of trading, other main platforms have experienced substantial drops. Raydium experienced a 24.75% decrease in weekly activity, while meteors and liquid dropped by 33.03% and 52.76% respectively.
The success of Pancakeswap could be due to several factors, including the lower transaction costs of the BNB chain compared to Ethereum, faster confirmation times and the user-friendly interface of the platform. The exchange particularly benefited from the growing interest in the parts even based on the BNB channel.
Among the highest tendency token on Pancakeswap:
- The BNB card has LED performance measures with a gain of 298% in 24 hours
- Mubarakah (197%increase).
- Cuz (increase of 110%)
- Siren (increase of 15.67%)
However, not all assets have behaved well. Bubb fell 24.99% and tells that a story decreased by 19.56% over the same period.
The native token of exchange, the cake, has also shown solid performance, recent prices indicating an increase of 40.6% in last week and 56.2% in the two weeks. However, the part experienced a minor withdrawal of 0.5% in the daily time. The token also maintained a positive gain of 3.1% over 30 days.
The platform has extended beyond the exchanges of simple tokens to include perpetual trading, prediction markets, NFT markets and lottery systems. This expansion has created a large DEFI ecosystem that has helped attract retail and institutional users.
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