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## PancakeSwap Surpasses Uniswap, Ascending to the DEX Throne with a Whopping $14 Billion in Weekly Transactions
PancakeSwap, the decentralized exchange celebrated for its delightful theme, has triumphantly outpaced Uniswap, seizing the position of the world’s foremost DEX, boasting an impressive $14 billion in trading volume over the past week.
Information from CoinMarketCap reveals PancakeSwap (CAKE) undergoing a substantial upswing in activity, marked by a notable 58.04% surge within the last week alone.
The BNB Chain-based DEX now commands almost 30% of all DEX trading volume, precisely 29.18%, showcasing a weekly volume of $14.168 billion and a daily Total Value Locked (TVL) of $1.67 billion.
This surge in activity empowered PancakeSwap to eclipse Ethereum-based Uniswap (UNI), which witnessed its weekly trading activity decline by over 50%. Despite sustaining a higher TVL of $3.93 billion, Uniswap’s trading volume has diminished to $8.611 billion. Apparently, users are gravitating towards those reduced fees!
### Solana DEXs Experiencing Challenges
While PancakeSwap basks in the limelight, other prominent platforms are encountering considerable downturns. Solana-based Raydium experienced a 24.75% reduction in weekly activity, while Meteora and Fluid declined by 33.03% and 52.76% respectively.
PancakeSwap’s triumph can likely be ascribed to a multitude of elements, encompassing the reduced transaction fees and expedited confirmation times provided by the BNB Chain in contrast to Ethereum. The platform’s intuitive interface also contributes. However, the exchange has notably capitalized on the heightened interest in meme coins on the BNB Chain. TruBit Collaborates with Morpho to Introduce DeFi Unearned Revenue in Latin America
A selection of the most sought-after tokens on PancakeSwap currently includes:
* BNB Card, spearheading the group with a 298% surge in the last 24 hours
* Mubarakah (increased by 197%)
* CUZ (increased by 110%)
* SIREN (increased by 15.67%)
Certainly, not all aspects are positive. BUBB has decreased by nearly 25%, and Tell A Tale has declined by almost 20% within the same timeframe. Instability prevails!
The exchange’s inherent token, CAKE, is also exhibiting robust impetus, with recent price information indicating a 40.6% surge over the past week and a 56.2% surge over the past two weeks. Nevertheless, the token has undergone a slight retraction of 0.5% in the daily timeframe.
In recent weeks, this digital currency has increased by 3.1%, boosting a huge decentralized finance environment that is drawing in both retail and corporate backers. What began as a basic token exchange platform has transformed into an extensive set of offerings, consisting of continuous trading, forecasting markets, a non-fungible token store, and also a sweepstakes program. It’s essentially an all-inclusive location for everything decentralized finance!
