In July, PancakeSwap continued to maintain its position as the largest decentralized exchange (DEX) in terms of Spot Trading volume. According to data from The Block, this DEX recorded $188 billion in trading in July, accounting for nearly 43% of the total trading volume across all DEXs – double that of Uniswap at $94 billion.
Previously, in June, PancakeSwap achieved $151 billion in Spot Trading, also equivalent to 43% market share.
This dominance is driven by several factors such as integration with Binance Alpha, launching PancakeSwap Infinity with lower gas prices, and the ability to trade across chains on BNB Chain, Ethereum, Arbitrum and Solana. These improvements help PancakeSwap attract users and significantly increase market share.
The Spot Trading ratio between DEX and CEX reached a record high of 27.9% in June, before slightly decreasing to 23.3% in July.
Although Uniswap remains a formidable competitor, no exchange – including Raydium or Aerodrome – has achieved trading volume close to PancakeSwap.
Additionally, PancakeSwap leads in fee revenue, generating over $430 million from automated market-making (AMM) services and Yield Farming mechanisms.
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The article PancakeSwap leads DEX in Spot Trading volume in July first appeared on CoinMoi.
