PancakeSwap reported in a summary report of DEX platform performance that its global trading volume reached $310.6 billion in 2024.
The protocol achieved this milestone across nine blockchains, marking a year-on-year growth of 179%. PancakeSwap's total trading volume in 2023 was $111.3 billion. According to PancakeSwap, the significant growth in its 12-month trading volume was primarily driven by the L2 networks Arbitrum and Base.
Meanwhile, PancakeSwap set a record for the highest single-day trading volume of $3.47 billion on December 16, 2024.
Additionally, its TVL rose to $2.17 billion this year, with the total number of individual traders exceeding 14.3 million.
Overall, PancakeSwap burned 455.5 million CAKE in 2024, with a net burn of 5.3 million CAKE, permanently destroying 1.37% of the total supply of CAKE.