Decentralized Exchange (Dex) Pancakeswap set a new quarterly record in Q3 with $ 749 billion in trade volumes, which marks an increase of 42% compared to Q2.
In Q2 the Platform $ 529 billion, after $ 205.3 billion in Q1, marked the first time since the 2020 launch that Pancakeswap posted three consecutive quarters of record growth, according to Dune data.
Pancake wap quarterly volume
The Pancake Wap team told The Defiant that the top token pairs per volume for Q3 BR-usdt ($ 80.72 billion), USDT-WLFI ($ 72.20 billion) and KOG-usdt ($ 66.52 billion) comprise. The Dex also reached a new highest point of 11.8 million users in Q3.
In general, the DEX has now surpassed $ 2.49 trillion in cumulative trade volume over 10 block chains supported by dune.
Top trade pairs
The figures underline the growing influence of pancake wap, partly fed by the launch of April pancakes, which are introduced infinitely, which introduced new types of liquidity pool (Clamm and Lbamm), adaptable smart contracts called ‘hooks’ and improved gas Efficiency.
Another driver is the growing ecosystem of Pancakeswap-momentary has locked a total value (TVL) of $ 2.5 billion and is the second largest DEX with 24 hours of volume, with only $ 3 billion in the past day, in Defillama alone. It also scores like a top DEX on BNB chain, base, arbitrum and ethereum.
In the meantime, the rise of users reflects the growing involvement in decentralized finances (Defi), a trend reflected in the wider sector, which has registered a TVL increase of 85% from April to October, now around $ 170 billion.
“For everyday users, higher trade volumes are not only figures, but also mean deeper liquidity and more reliable prices when exchanging tokens,” reads a press release that is viewed by the challenging challenging. “For projects this means access to one of the most active, lively and global user base in Defi.”
The Q3-Mijlpaal follows various platform updates this year, including a cross-chain swap function that makes Token swaps possible in seven chains.
Other updates include the implementation of BTC and ETH prediction markets on BNB chain, social registrations for non-striking portfolios and pancake gifts, with which users can ship crypto on-chain with a link or QR code.
