Data: PancakeSwap's trading volume this year reached $31 billion, a year-on-year increase of 179%

ChainCatcher news, PancakeSwap stated in a report summarizing the year-on-year performance of DEX platforms that its global trading volume reached $31.06 billion in 2024.

The protocol achieved this milestone across nine blockchains, representing a year-on-year growth of 179%. PancakeSwap's total trading volume in 2023 was $11.13 billion. According to PancakeSwap, the significant growth in its 12-month trading volume was primarily driven by L2 networks Arbitrum and Base.

Meanwhile, PancakeSwap set a record for the highest single-day trading volume of $3.47 billion on December 16, 2024.

Finally, PancakeSwap burned 455.5 million CAKE in 2024, with a net burn of 5.3 million CAKE, permanently removing 1.37% of the total CAKE supply.