PancakeSwap is currently the largest DEX by trading volume outpacing Uniswap. The DEX had up to $1.5 billion traded in the last 24 hours.
This achievement saw it overtake Ethereum-based Uniswap which had been in the number one spot for a while.
PancakeSwap Shifts Uniswap
A data from Coingecko shows the current uptrend of PancakeSwap.
The transcend of PancakeSwap over Uniswap has happened even with the DEX having less visitors. Its native token, CAKE, traded at $18.55. This is more than 200% development over the last one week.
The new uptrend of PancakeSwap follows a period where Ethereum network prices have hit the rooftop, and clients are searching for options.
The DEX platform is built on the Binance Smart Chain (BSC) which offers altogether lower charges, around $0.10 per exchange, and almost instant settlements, and has seen a huge use in the wake of the Ethereum price bullish run.
Binance Coin (BNB) Pushes Through To No 3
The Binance native token has been rising since the past few days. The BNB has broken into the top three cryptocurrencies by market cap.
BNB recently has a $257 price range, while its market cap of $38.1 billion has overwhelmed Tether’s stablecoin, USDT as the third-biggest digital currency in the market.
BNB is being utilized to pay gas expenses on the Binance Smart Chain. As the ascent in exchanges becomes almost an everyday thing, there will be more noteworthy interest for the token.