PancakeSwap, a prominent player among DEXs, has announced a milestone in 2024. According to PancakeSwap, the company has witnessed a staggering 179% year-on-year increase with trading volume of $310.6 billion across nine blockchains by 2024.
This groundbreaking achievement underlines its top position as a multi-chain DeFi potential. Several layer 2 chains such as Arbitrum and Base led this milestone. The development reflects PancakeSwap’s continued multichain dominance and growth.
PancakeSwap reaches $310 billion in trading volume with 179% year-over-year growth
The popular decentralized exchange revealed that reaching a trading volume of $310.6 billion with an increase of 178.97% year-on-year by 2024 is a remarkable success. It added that this reveals growing accessibility and innovation. Its total value was $2.17 billion, while the platform saw participation from more than 14.38 million unique traders.
The stunning growth signifies PancakeSwap’s efficient scaling operations across up to 9 blockchain networks. They consider BNB Chain, Base, Arbitrum, zkSync, Linea, Ethereum, Aptos, opBNB and Polygon zkEVM.
Source: PannenkoekSwap
PancakeSwap leverages the high throughput and low cost of the L2 chains such as Base, Arbitrum and opBNB to attract countless consumers. In this regard, the platform provided them with an accessible and seamless DeFi experience.
The platform’s record-breaking growth reflects its unparalleled ability to scale and adapt across different blockchain ecosystems. As a result, PancakeSwap enjoys the status of a go-to DEX that facilitates users around the world.
Upgrades such as PancakeSwapX and Spring Board meet users’ needs
Key contributors to PancakeSwap’s unprecedented success in 2024 included launching projects that addressed real user needs. The respective innovations and upgrades in swaps, bridging, and farming sought to increase accessibility and efficiency. Furthermore, the platform has experienced significant traction along with reputational growth, attracting several new consumers.
PancakeSwap’s notable upgrades include PancakeSwapX with zero-fee and gasless swaps on Arbitrum and Ethereum. Another upgrade was the SpringBoard token launch pad at no cost to the BNB Chain.
In addition, the platform also offered AI-driven prediction markets on Arbitrum along with Telegram bots to streamline Telegram-based predictions and token swaps. In addition, the Pancakeswap Bridge facilitated cross-chain transactions between eight chains. Additionally, it also enables multi-chain support on opBNB, Polygon zkEVM, Base, Linea and more with Gauges Voting and veCAKE upgrades.
Technological success of 2024 fuels momentum for 2025
According to PancakeSwap, with these developments in 2024, its technology venture has been quite fruitful. Additionally, it burned up to 455.5 million $CAKE tokens to increase long-term stability. Additionally, the platform now has 1.79 million $CAKE holders worldwide.
These Milestones ensure that PancakeSwap remains a dominant player in the sector. This also raises morale for a new, diligent journey through 2025 to shape a viable multi-chain future.
