PancakeSwap Surpasses $1 Trillion in Trading Volume on BNB Chain
PancakeSwap has surpassed $1 trillion in trading volume on the BNB Chain, marking a significant milestone for the decentralized exchange (DEX). Key points include:
- PancakeSwap recorded approximately $6.34 billion in total volume within the last 24 hours from about 41.8K active addresses.
- It operates on multiple chains, including Ethereum, Aptos, and Arbitrum.
- The DEX holds a total value locked of around $1.8 billion and an annualized fee of about $2.67 billion, with 81.2% of CAKE's max supply burned.
- Whale investors control approximately 10% of CAKE’s supply, limiting retail availability.
- The launch of meme coins has increased on-chain activity on PancakeSwap, attracting speculative traders.
- Recent enhancements to MEV protection have been implemented to safeguard user funds.
From a technical analysis perspective, CAKE is forming a macro reversal pattern and has seen a price rebound from the support level of approximately $1.54. Analysts suggest that CAKE may be poised for growth toward its all-time high of about $43.96, contingent upon consistently closing above resistance at $5.4.