PancakeSwap Surges as Trading Volume Hits Record High
PancakeSwap’s price has soared over 9% in just 24 hours. The decentralized exchange’s daily trading volume reached an impressive $2.2 billion, leading the sector.
The price of PancakeSwap’s native token, CAKE, peaked at $2.37. this rise comes as the crypto market joins stocks in climbing, fueled by positive investor sentiment on U.S.-China trade talks.
CAKE has shown significant bullishness since April. After dipping to $1.61 on April 7, it bounced back and broke above the $2 mark. In the past month, the token’s price has surged by over 26%.
A key factor behind this growth is the launch of PancakeSwap Infinity. This rebranding, which went live in late April, introduced major upgrades. These include multichain support beyond BNB Chain and advanced liquidity options like CLAMM and BLAMM.
These features offer users more flexibility in liquidity strategies. Custom fee structures and optimized returns are also highlights.
As a result, PancakeSwap’s trading volume has spiked.In the past week, it saw a 37% increase. The platform’s 24-hour volume hit over $2.2 billion, putting it at the top of DEXes, according to DeFiLlama data.
Uniswap, the second-largest DEX, had a daily volume of about $2.18 billion but only a 3% weekly increase. Pendle saw a 162% jump in daily volume, but it only amounted to $126 million.
PancakeSwap’s weekly volume exceeded $9 billion. The DEX market recorded $11.4 billion in the past 24 hours and $60.3 billion in the past week.
