Key Takeaways
- Binance Smart Chain DEXs have recorded record trading volumes in the past 30 days.
- Pancakewap accounts for $132 billion of DEX volumes on BSC.
- Solana and Ethereum DEXs have recorded combined trading volumes of just over $140 billion in the past 30 days.
Binance Smart Chain (BSC) decentralized exchange (DEX) trading volumes are on track to break records as they record over $150 billion in 30-day volumes.
BSC DEXs have significantly outperformed competing chains Solana (SOL) and Ethereum (ETH), as PancakeSwap soars on BSC and places the chain on track for a record-setting month.
Binance DEXs Fly
Binance DEX volumes have soared over the past 30 days, recording $158.55 billion in trading volumes over the past 30 days, more than double that of Solana (SOL) with $74.83 billion. And almost triple that of Ethereum (ETH), which tallied $65.6 billion.
Leading this surge of activity is PancakeSwap, the first DEX to launch on the Binance Smart Chain back in 2020. PancakeSwap volumes have been on the rise, jumping from a year-low of $31 billion in April to over $98 billion in May.
So far in June, PancakeSwap has tallied $85.71 billion in monthly trading volumes.
Adding fuel to its engine, the Bedrock (BR) token recently launched a BR/USDT trading fee rebate campaign on PancakeSwap. This reportedly resulted in $2 billion in trading volumes within 24 hours.
Breaking Records
On a monthly basis, this is the fourth-highest performing month for BSC DEX volumes since May 2021. That year also saw its second-highest performing month, pulling $130.7 billion in November.
Since then, volumes have trailed under $50 billion until December 2024.
At this current pace, BSC DEX volumes, led by PancakeSwap, are on course to overtake May and become the third-best performing month in BSC DEX history.
It follows a massive cooling-off period for Solana DEXs, which were massively inflated by the thousands of memecoins spawning out from Pump.fun. Solana DEXs were dominant for weeks in a row during this period.
That period is officially over, with Solana volumes returning to ‘normal’.
That said, Ethereum DEX volumes remain consistent, garnering between $50 billion and $80 billion over the past six months.
Eddie is a gaming and crypto writer at CCN. Covering the often weird and wonderful world of Web3 with an adoring, but skeptical eye.
Prior to CCN, Eddie has spent the past seven years working his way through the crypto, finance, and technology industry. He began with PR and journalism with Bitcoin PR Buzz and BitcoinNews.com, eventually working his way to become a copywriter with a dozen firms, including the likes of Polkadot before returning to journalism in 2023.
Having studied Radio production and journalism at University in the UK, Eddie spent a few years making podcasts and presenting on a local London radio station as he built up his writing chops.
A lifelong skateboarder, Eddie can often be found at the skatepark or touring the streets looking for something new to try. That, or kicking back playing JRPGs on his original PSP.
