Pancakeswap is just wrapped in the best quarter in their history. However, their native token cake dropped 24% this month, now trading around $ 1.94.
Pancakeswap achieved its highest trading volume with $ 205.3 billion in Q1 2025. This record-breaking quarter marks a major milestone for exchange since its launch. The platform has grown massive since early 2023, with an increase in trading volume of 921%, user numbers up to 81%, and the transaction number increases by 159%.
The decentralized exchange began with the BNB chain in 2020. Since then, it has expanded to many blockchains and has changed on a complete defi platform. According to data from Dune Analytics, Q1 2025 has brought 5.83 million unique entrepreneurs – the highest number since late 2021.
Growth since 2023 shows the rising popularity of pancakeswap. Quarterly trade volume jumped from $ 20.1 billion to Q1 2023 to $ 205.3 billion in Q1 2025. The number of unique entrepreneurs increased from 3.2 million to 5.8 million during this time. The number of transactions also found the growing growth, rising from 44.1 million to 114.4 million.
Success and change of multi-chain
Pancakeswap has strengthened its position as a leading exchange across the blockchains. It processes a wonderful $ 1.14 trillion in trade in the BNB chain only. Other chains also show strong adoption, with $ 21.10 billion at the base, $ 20.28 billion in arbitrum, and $ 20 billion in Ethereum.
The platform will continue to change the recent upgrades to version 3, and Pancakeswap Infinity is coming. Users are increasingly implementing the pancakeswap Telegram bot for convenient trade. Another popular feature is Pancakeswapx, which allows users to make trading without paying gas fees.
These numbers and developments feature a growing dominance of pancakeswap in the defi space. The platform continues to expand its reach and improve its services, attracting more users to different blockchain networks.
Why cake price falls despite strong performance
Despite these wonderful numbers, the cake token price dropped 24% this month to $ 1.94. This connectivity occurs for many reasons.
The general crypto market has been a change of mind -just, pulling many tokens regardless of the success of their project. Although the pancakeswap trading volume increases, it does not always increase demand for cake tokens.
The token economy can also work. Even in efforts to make the cake more beneficial and less inflationary, investors are still worried about its long-term value. Competition from other decentralized exchanges is growing, which spreads investment on more platforms.
There is a frequent delay between the success of a platform and the price of its token. Pancakeswap record performance may be in the price of the cake, but for now, they are moving in opposite directions.
In Q1 2025 showing strong results, pancakeswap is positioned to continue its growth throughout the year. However, if the cake token eventually reflects the success it remains.
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