Bye Bye UniSwap, PancakeSwap Dominates the DEX Market! - Kakiforex | Forex markets for the smart money. Bye Bye UniSwap, PancakeSwap Dominates the DEX Market! Bye Bye UniSwap, PancakeSwap Dominates the DEX Market!

April 13, 2021

Bye Bye UniSwap, PancakeSwap Dominates the DEX Market!

 As gas prices (transaction costs) on the Ethereum network skyrocketed, the decentralized exchange platform (DEX) at Binance Smart Chain (BSC) became the focus primarily of PancakeSwap because its transactions were cheaper and faster.


In fact, if investors are wondering what is causing the price of Binance Coin (BNB) to get more expensive as it is also driven by the DEX-centered attention in Binance.


Back with PancakeSwap, based on CoinGecko’s record the exchange platform is in second place after Mdex, with 24 -hour trading volume hitting $ 3,403,739,802.


Pancake also managed to overtake the top exchange in the Ethereum network, Uniswap which is currently ranked third with a record trading volume of just $ 1,220,527,390.



This makes PancakeSwap’s trading volume three times higher than PancakeSwap’s and the volume equals the combined trading volume at Kucoin and FTX.


If BSC continues to introduce low gas prices in BSC, PancakeSwap is able to soar higher and become the best exchange platform among others. Most interestingly, it has already managed to beat UniSwap.


Most recently, PancakeSwap announced a total of 4.8 million CAKE tokens worth $ 119 million had been burned.


At the time of writing, CAKE is trading at $ 25.40, down 7.5% after hitting an all -time high (ATH) last night, $ 27.65.