Data: PancakeSwap's transaction volume this year reached $310 billion, a year-on-year increase of 179%

According to ChainCatcher, PancakeSwap stated in a report summarizing the year-on-year performance of DEX platforms that its global trading volume reached US$310.6 billion in 2024.

The protocol achieved this milestone on nine blockchains, a 179% year-over-year increase. PancakeSwap’s total transaction volume in 2023 was $111.3 billion. According to PancakeSwap, its significant growth in 12-month transaction volume was mainly driven by 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.

Finally, PancakeSwap destroyed 455.5 million CAKE in 2024, with a net destruction of 5.3 million CAKE, permanently destroying 1.37% of the total supply of CAKE.