PancakeSwap has achieved a record-breaking year in 2024, with a staggering $310 billion in trading volume, marking a 179% increase from the previous year. This surge is largely driven by the expansion of layer-2 networks like Arbitrum and Base, which saw trading volumes rise by over 3,500% each. The decentralized exchange (DEX) also benefited from a growing interest in DeFi and user-centric upgrades, such as PancakeSwapX, which offers zero-fee trading and gasless swaps. As a result, PancakeSwap ranks as the second-largest DEX by daily trading volume, trailing only Uniswap.