PancakeSwap, a multichain decentralized exchange (DEX), achieved an unprecedented trading volume of $325 billion in June, marking the highest monthly total in its five-year history. This figure surpassed May's $174 billion, bringing the second-quarter volume to $530 billion, more than double the $211 billion from the first quarter, as reported by Dune Analytics. The increase in trading activity follows significant upgrades, including the launch of PancakeSwap Infinity in April, which enhanced user experience and trading efficiency with lower gas fees and customizable liquidity pools. Chef Kids, head of PancakeSwap, emphasized that these upgrades facilitate innovation for developers and improve capital allocation for liquidity providers. Additionally, crosschain trading features introduced on June 11 allow users to trade assets across BNB Chain, Ethereum, and Arbitrum seamlessly. Despite this growth, PancakeSwap's trading volume remains heavily concentrated on BNB Chain, which accounted for 96.7% of its total volume in Q2, while its presence on Ethereum is minimal. Read more AI-generated news on: https://app.chaingpt.org/news

#BNB #ETH