PancakeSwap's total trading volume reached 310 billion US dollars in 2024, an increase of nearly 179% year on year

According to reports, the decentralized exchange (DEX) PancakeSwap reached a total trading volume of $310 billion in 2024, an increase of nearly 179% compared to $111 billion in 2023. PancakeSwap reported that this was mainly due to the L2 networks Arbitrum and Base. The cryptocurrency trading volume on Arbitrum increased by 3,656% year-on-year, reaching $13.2 billion, while the cryptocurrency trading volume on Base increased by 3,539%, reaching $11.6 billion by 2024. In addition, PancakeSwap's trading volume increased by 179% year-on-year, reflecting positive market sentiment and an increase in activity in the DeFi and DEX sectors.