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.
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