PancakeSwap Achieves $188 Billion Trading Volume in July
PancakeSwap's trading volume surged to $188 billion in July, making it the leading decentralized exchange (DEX) by spot trading volume, capturing 43% of all DEX trades. This marks an increase from $151 billion in June.
PancakeSwap vs. Uniswap
- Uniswap ranked second with $94 billion in July, half of PancakeSwap's volume.
- Integration with Binance Alpha and the launch of PancakeSwap Infinity contributed to this growth.
- Lower gas fees and faster trading, along with cross-chain access across BNB Chain, Ethereum, Arbitrum, and Solana, enhanced user experience.
- Growing interest in non-custodial trading further boosted PancakeSwap's appeal.
- Other exchanges like Raydium and Aerodrome lagged significantly behind in trading volumes.
PancakeSwap's price rose by 15% in July due to BNB reaching a new all-time high above $850, contributing to its overall performance.
Fee Earnings
- PancakeSwap generated over $430 million in fees in July, outperforming all other DEXs.
- This includes earnings from automated market-making and yield farming activities.
- Despite a drop in the DEX-to-CEX trading ratio from 27.9% to 23.3%, PancakeSwap maintained its market share.
- The platform's strong performance is attributed to effective products, partnerships, and timely upgrades.
PancakeSwap is likely to remain a key player in the DEX market as it continues to attract users and adapt to their needs.