Decentralized Exchange (DEX) PancakesWap reported a volume of $325 billion in June 2025, with a volume of $325 billion, according to Defilama.
According to data from Dune Analytics, monthly volume in June was nearly doubled to $173 billion in May, the highest in Panakeswap’s five-year history. Quarterly volume also surged to a record $529 billion in the second quarter, up 158% from $205.3 billion in the first quarter.
DEX currently handles lifetime trading volumes of over $1.8 trillion across all supported chains, recording 7.4 million unique users in the second quarter alone.
Pancakeswap monthly volume
“To achieve record-breaking record-breaking record highs in monthly and quarterly trading volumes reflects the incredible support from our community and the trust of millions of users around the world,” Pancake Wop’s Head Chef Chef Chef Chef said in a statement shared with the rebels.
Growth driver
Surge follows the deployment of Pancakeswap’s April launch of Pancakeswap Infinity, customizable “hooks” and several major infrastructure upgrades introducing new liquidity pool types (LBAMM and clamm).
And in June, Dex debuted “Crosschain Swaps,” allowing users to trade across BNB chains, Ethereum and arbitrum in one click without bridges or app switching.
The platform also recorded strong momentum across the Ethereum ecosystem in the second quarter, with $30 billion on base, $25 billion on arbitrum and $21 billion on Ethereum Mainnet.
However, BNB Chain holds the top spot, with DEX handling a $356 billion volume on its network last quarter. As of June 20th, the BNB chain had recorded $159 billion in DEX activity over 30 days. According to Defilama, it was about $72 billion more than Ethereum and Solana combined.
More recently, Pancakeswap launched a V3 liquidity pool in Solana, offering cheaper trading and higher yields. The upgrade is based on Pancakeswap’s V3 architecture, first introduced in April 2023.
Cake price
Pancakeswap’s cake tokens have risen 5.5% over the past 24 hours, up 10% last week, trading at a market capitalization of $760 million.