PancakeSwap's 2024 trading volume surged to $310 billion, driven by DeFi growth, layer-2 adoption and user-focused upgrades.
PancakeSwap closed a record year in terms of cryptocurrency trading volume, owing to growing interest in decentralized exchanges and the expansion of layer-2 blockchain networks.
Decentralized exchange (DEX) PancakeSwap recorded $310 billion in total trading volume during 2024, marking a nearly 179% year-over-year (YoY) increase from $111 billion in 2023.
The record year was mainly attributed to L2 networks Arbitrum and Base, as the former saw a 3,656% YoY increase to $13.2 billion, while crypto trading volume on Base rose by 3,539% YoY to $11.6 billion in 2024, according to a PancakeSwap report shared with Cointelegraph.
