- On December 4, PancakeSwap’s daily trade volume hit $1.27 billion, the most the decentralized exchange has seen since March of this year.
Data from PancakeSwap indicates that following the DEX’s December 4 launch of its token launch platform PancakeSwap SpringBoard, the daily trading volume of BNB Chain’s largest decentralized exchange surged by over 60% from the day before.
By trading volume, PancakeSwap is presently ranked second on DeFi Llama’s DEX leaderboard, surpassing Aerodrome, Orca, and Raydium. The marketplace has amassed $2.32 billion in cryptocurrency trade volume during the last day.
Before yesterday’s announcement of the launch platform for BNB-powered meme coins—which many have compared to pump—the DEX had not been able to surpass the $1 billion mark since March 2024.fun, the token launch platform powered by Solana that is well-known for being a marketplace for meme coins.
Pump.fun’s daily trade volume decreased by over 13% from $230.4 million on December 3 to $201.4 million on December 4, according to data from Dune Analytics. As of this writing, 4.3 million tokens have been launched on the platform.
Solana-powered meme coins gained popularity in the cryptocurrency world thanks to Pump.fun. Pump.fun accounted for 62.3% of Solana’s DEX transactions in November, as crypto.news previously reported.
By giving people a place to generate and exchange BNB Chain meme coins without the need for technical knowledge, PancakeSwap Springboard could help Binance Coin. Following PancakeSwap Springboard’s introduction, BNB hit a record-breaking $782.
Furthermore, on December 4, BNB’s market value of $113 billion overtook Solana’s, becoming it the fifth largest cryptocurrency.
However, it is unclear if this tendency will continue. According to data from crypto.news, BNB has decreased by 4.78% during the last day as of this writing. At $734.21, the token is presently in circulation. Additionally, BNB’s market value has decreased to $106 billion.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
