PancakeSwap saw $205B Q1 trading volume in best ever quarter

The Multi-Chain Pancakeswap decentralized financial platform recorded 205.3 billion dollars in a volume of negotiation in the first quarter of 2025, its best quarterly performance since its launch.

Pancakeswap (CAKE) shared the milestone in an article on April 24 on X, citing Dune Analytics Data. Since the first quarter of 2023, the volume of negotiation has increased by 921%, while user and transactions have increased by 81%and 159%, respectively. With more than 123 million users, the platform managed more than $ 1.33 dollars of total trading volume to date.

The main source of user activity is the BNB channel (Bnb), which recorded 48 million users and a cumulative volume of 1.14 dollars. Base, arbitrum (ARB), and Ethereum (Ethn) are a few other active chains. Pancakeswap was launched in 2020 and has since become a main deffi platform on several channels.

The strong growth of the platform coincides with the unroll From Cake Tokenomics 3.0, which was officially posted on April 23. The update removes the cake milestone and the vecake, replacing them with a purchasing and burning model and a hard supply ceiling of 450 million tokens.

Daily emissions will fall into two stages, from 29,000 cakes to 20,000, then to 14,500. About 5.3 million cakes should be burned each year in the new system.

Despite the optimistic The metrics and the Tokenomics Defi change, the cake is down 26% in the last 30 days. With a drop of 2% in the last day, the token is currently negotiating at $ 1.97. The daily graphic indicates that the price is consolidated just below the key resistance of $ 2.08, with $ 1.87 and $ 1.78 serving as a support.

The resistance index relating to 51 shows a neutral trend without noticeable momentum, and Bollinger strips have low volatility. Bulls need a clear rupture greater than $ 2.08 to confirm a change of trend. The cake can be lower in the near future if the price does not hold.