Pancakeswap solidified its leadership by maintaining its position as the largest distributed exchange (DEX) in terms of spot trading volume in July.
Pancakeswap held the lead as the biggest diversified exchange by spot trading volume in July
Pancakeswap reached a trading volume of $188 billion in July, more than doubled Uniswap’s $94 billion. This made the platform account for around 43% of the total DEX.
In June, Pancakeswap reached the highest spot volume among all decentralized exchanges, including a trading volume of $151 billion, once again dominated 43% of the market.
This surge is driven by PancakesWap integration with Binance Alpha, the launch of Pancakeswap Infinity with low gas prices, and cross-chain trading capabilities across chains such as BNB chains, Ethereum, Arbitrum and Solana. These factors helped the platform attract more users compared to centralized exchange (CEX).
The central exchange ratio of spot trading volume on DEXS broke records at 27.9% in June, but this ratio fell to 23.3% in July.
UniSwap remains a key competitor, but is far behind Pancakeswap when it comes to trading volume over 30 days. Other distributed exchanges like Raydium and Aerodrome are not even close to what matches Pancakeswap’s trading volume.
Pancakeswap has also been the DEX that generates the largest fees for automated market production and yield farming services, collecting more than $430 million in trading fees.
*This is not investment advice.
