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PancakeSwap, a prominent player among the DEXs, has announced a landmark achievement in 2024. According to PancakeSwap, it has witnessed a staggering 179% year-on-year increase with a trading volume of $310.6B across nine blockchains throughout 2024.
This groundbreaking achievement highlights its top position as a multi-chain DeFi potential. Several layer-2 chains like Arbitrum and Base led this milestone. The development reflects PancakeSwap’s persistent multichain dominance and growth.
PancakeSwap Hits $310B in Trading Volume with a 179% YoY Growth
The popular decentralized exchange disclosed that reaching $310.6B in trading volumes with a 178.97% year-on-year surge over 2024 is a remarkable success. It added that this reveals its growing accessibility and innovation. The total value locked thereof touched $2.17B while the platform saw participation from more than 14.38M unique traders.
The stunning growth denotes PancakeSwap’s efficient scaling operations across up to 9 blockchain networks. They take into account BNB Chain, Base, Arbitrum, zkSync, Linea, Ethereum, Aptos, opBNB, and Polygon zkEVM.
PancakeSwap leverages the high throughput and low fees of the L2 chains like Base, Arbitrum, and opBNB to attract numerous consumers. In this respect, the platform provided them with an accessible and seamless DeFi experience.
The record-breaking growth of the platform mirrors the unparalleled ability thereof to scale and customize across different blockchain ecosystems. As a result of this, PancakeSwap enjoys the status of a go-to DEX facilitating the users around the globe.
Upgrades Like PancakeSwapX and Spring Board Meet User Needs
The key contributors to the unparalleled success of PancakeSwap during 2024 included the launch of projects addressing real user requirements. The respective innovations and upgrades dealing with swaps, bridging, and farming endeavored to increase the accessibility and efficiency. Moreover, the platform has experienced substantial appeal along with reputational growth, attracting several new consumers.
The noteworthy upgrades of PancakeSwap include PancakeSwapX with zero-fee and gasless swaps on Arbitrum and Ethereum. Another upgrade was the zero-fee SpringBoard token launchpad for the BNB Chain.
Additionally, the platform also offered AI-driven prediction markets on Arbitrum along with Telegram bots to streamline Telegram-based predictions and token swaps. In addition to this, the Pancakeswap Bridge facilitated cross-chain transactions across eight chains. Apart from that, it also enables multi-chain support on opBNB, Polygon zkEVM, Base, Linea, and more with Gauges Voting and veCAKE upgrades.
Technological Success of 2024 Fuels the Momentum for 2025
According to PancakeSwap, its technological venture has been quite fruitful during 2024 with these developments. Along with that, it burned up to 455.5M $CAKE tokens to boost long-term stability. Furthermore, the platform now has 1.79M $CAKE holders worldwide.
These Milestones ensure that PancakeSwap remains a dominant player in the sector. This also raises its morale for a new zealous journey through 2025 to shape a viable multi-chain future.