The post PancakeSwap Leading the Market & Weekly Trading Volume Reaches $ 116.95 Billion appeared on BitcoinEthereumNews.com.

Decentralized exchanges have seen massive adoption, with total weekly trading volume scaling to an all-time high of $116.95 billion. This is up by a 13.23% enhancement from the previous week, thus showing that the demand for decentralized trading platforms is upward. Decentralized exchanges (DEXs) remain entrenched in the constantly developing blockchain landscape since they dominate CEXs with 61.41%. PancakeSwap Leads the Market On top of the chart, PancakeSwap maintains its lead and remains the leading decentralized exchange. It indicated that the platform registered $34.13 billion in weekly trading volume and boasted a substantial $23.58 billion in TVL. PancakeSwap has been effective due to its simplified UI, minimal trading fees, and numerous opportunities for exchanging assets within one platform, which many traders prefer using various blockchains. After PancakeSwap comes Uniswap, an Ethereum giant and one of the world’s first AMM-based protocols. Despite having a significantly lower  TVL of $1.91 billion than Pancakeswap, Uniswap had a $22.49 billion weekly trading volume. Rising Stars: Raydium, Aerodrome, and Orca Raydium operates on Solana and is ranked third in trading volume at $11.32 billion and total value locked at $1.34 billion. Due to its connection to Solana’s blockchain, it has attracted traders seeking a fast trading platform. Fourth, the Aerodrome is becoming relatively more important in the ecosystem in terms of trading volume, which is at $8.03 billion, and the total value locked, which is raised to $824.38 million. Aerodrome is another relatively new platform that has been recently picking up more attention in the DeFi space for its creative liquidity mining programs. Another gem from the Solana network was Orca, which concluded the week with a trading volume of $4.51 billion and a TVL of $453.68 million. Thus, Orca, which is simple and convenient, has become one of the leaders among decentralized exchanges. Specialized…

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Filed under: News - @ December 27, 2024 1:21 pm