- PancakeSwap reported $6.55 billion in daily volume and $158.4 billion over 30 days.
- Uniswap, the second-largest DEX, had $1.79 billion in daily and $82.32 billion in 30-day volume.
- PancakeSwap operates across nine blockchains, increasing its reach and user activity.
PancakeSwap has emerged as the leading decentralized exchange (DEX) by trading volume, significantly outpacing its peers. The platform recorded $158.4 billion in trading volume over the past 30 days, nearly double that of second-place Uniswap, according to new figures from DefiLlama shared on X.
The Strategy Behind PancakeSwap’s Dominance
PancakeSwap’s dominance in the DEX market is supported by its compatibility with nine blockchain networks. This multi-chain compatibility has enabled it to attract a broad base of users and liquidity providers.
Related: PancakeSwap Overtakes Circle in Fees: Can It Overcome Tether Next?
Notably, PancakeSwap recorded an all-time high of $325 billion in trading volume for June, nearly doubling May’s $174 billion and pushing its Q2 total to $530 billion, according to Dune Analytics.
This spike in activity came after the April launch of PancakeSwap Infinity, a major platform upgrade that introduced lower gas fees and new tools for developers and liquidity providers.
Further enhancements were made on June 11, when the platform enabled native cross-chain trading across BNB Chain, Ethereum, and Arbitrum, removing the need for external bridges. On July 1, PancakeSwap expanded its reach by launching a v3 liquidity pool on the Solana network.
Uniswap Trails Behind Despite Broader Chain Coverage
Uniswap, which supports 37 blockchains, ranked second in the trading volume chart. Its 24-hour volume stood at $1.79 billion, with a 30-day total of $82.32 billion.
While the platform maintains a strong position in the DeFi ecosystem, its trading volume is nearly half that of PancakeSwap. Despite broader network support, Uniswap appears to be losing ground in terms of user engagement and transaction frequency.
Other Platforms Show Modest Activity
Raydium came in third, recording a 24-hour volume of $677.69 million and a 30-day total of $18.65 billion. Aerodrome followed with $517.99 million daily and $13.80 billion monthly.
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Other platforms in the top nine include Meteora ($12.01 billion), Fluid ($8.68 billion), Pump ($13.42 billion), Orca ($13.26 billion), and Hyperliquid ($10.12 billion) in 30-day volume. These platforms, although active, remain well below the trading benchmarks set by PancakeSwap and Uniswap.
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