According to Cointelegraph, the total transaction volume of decentralized exchange PancakeSwap reached 310 billion US dollars in 2024, a year-on-year increase of 179%.
The record was largely attributed to L2 networks Arbitrum, which saw its transaction volume increase 3,656% year-over-year to $13.2 billion, and Base, which grew 3,539% to $11.6 billion.
PancakeSwap’s growth was also driven by increased DeFi activity and user experience upgrades, including the launch of PancakeSwapX, which enables zero-fee transactions and gas-free asset swaps.
In addition, PancakeSwap has also achieved significant growth on multiple chains, such as Ethereum growing by 251% and BNB chain growing by 155%.
