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PancakeSwap has established itself as the top decentralized exchange (DEX) by trading volume, achieving a remarkable $158.4 billion over the past 30 days. This figure is nearly double that of its closest rival,
, which recorded $82.32 billion during the same period. PancakeSwap's daily trading volume reached $6.55 billion, while Uniswap's was $1.79 billion. This leadership position can be attributed to PancakeSwap's multi-chain compatibility, which spans nine different blockchain networks. This extensive reach has enabled the platform to attract a diverse user base and a significant number of liquidity providers.PancakeSwap's recent upgrades have been instrumental in its success. The launch of
Infinity in April introduced lower gas fees and new tools for developers and liquidity providers, leading to a surge in activity. This was further enhanced on June 11 when the platform enabled native cross-chain trading across Chain, , and Arbitrum, eliminating the need for external bridges. On July 1, PancakeSwap expanded its reach by launching a v3 liquidity pool on the network. These enhancements have not only increased user engagement but also pushed PancakeSwap's trading volume to an all-time high of $325 billion in June, nearly doubling May’s $174 billion and bringing its Q2 total to $530 billion.Despite supporting 37 blockchains, Uniswap trails behind PancakeSwap in terms of trading volume. While Uniswap maintains a strong position in the DeFi ecosystem, its trading volume is nearly half that of PancakeSwap. This suggests that broader network support alone may not be sufficient to maintain user engagement and transaction frequency. Other platforms such as Raydium, Aerodrome, Meteora, Fluid, Pump, Orca, and Hyperliquid also show modest activity, with their 30-day trading volumes ranging from $8.68 billion to $18.65 billion. These platforms, while active, remain well below the trading benchmarks set by PancakeSwap and Uniswap.

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