PancakeSwap

Orca

Coin

PancakeSwap’s daily trading volume reached $1.27 billion on Dec. 4, the highest single-day trading volume the decentralized exchanged has seen since March of this year.
According to data from <a rel="noopener noreferrer nofollow" href="https://crypto.news/tag/pancakeswap/">PancakeSwap</a>, BNB (<a rel="noopener noreferrer nofollow" href="https://crypto.news/price/bnb/">BNB</a>) Chain’s largest decentralized exchange saw its daily trading volume skyrocket by more than 60% from the previous day after the <a rel="noopener noreferrer nofollow" href="https://crypto.news/tag/dex/">DEX</a> launched its token launch platform <a rel="noopener noreferrer nofollow" href="https://crypto.news/bnb-reaches-new-all-time-high-after-pancakeswap-unveils-launch-platform-for-bnb-meme-coins/">PancakeSwap SpringBoard</a> on Dec. 4.
PancakeSwap currently ranks second on <a href="https://defillama.com/dexs" target="_blank" rel="noopener noreferrer nofollow">DeFi Llama’s</a> DEX leaderboard by trading volume, beating out Raydium, Orca and Aerodrome. In the past 24 hours, the platform has accumulated $2.32 billion worth in crypto trading volume.
Since March 2024, the DEX has not been able to break through the $1 billion threshold until yesterday when it announced the release of a launch platform for BNB-powered <a rel="noopener noreferrer nofollow" href="https://crypto.news/tag/meme-coin/">meme coins</a>, which many have considered similar to pump.fun, the Solana-powered token launch platform famous for being a “meme coin marketplace.”
You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/bnb-reaches-new-all-time-high-after-pancakeswap-unveils-launch-platform-for-bnb-meme-coins/"> BNB reaches new all-time high after PancakeSwap unveils launch platform for BNB meme coins </a>
According to data from <a href="https://dune.com/jhackworth/pumpfun" target="_blank" rel="noopener noreferrer nofollow">Dune</a> analytics, pump.fun’s daily trading volume fell by nearly 13%, from $230.4 million on Dec. 3 to $201.4 million on Dec. 4. At the time of writing, the platform has launched a total of 4.3 million tokens.
Pump.fun has been credited with popularizing Solana (<a rel="noopener noreferrer nofollow" href="https://crypto.news/price/solana/">SOL</a>)-powered meme coins in the crypto sphere. As previously reported by <a rel="noopener noreferrer nofollow" href="https://crypto.news/62-of-solanas-dex-transactions-belong-to-pump-fun-what-keeps-it-going/">crypto.news</a>, pump.fun contributed to 62.3% of Solana’s DEX transactions in November.
PancakeSwap Springboard could boost Binance Coin by providing users with a platform where they could create and trade BNB Chain meme coins without coding necessary. After the launch of PancakeSwap Springboard, BNB <a rel="noopener noreferrer nofollow" href="https://crypto.news/bnb-reaches-new-all-time-high-after-pancakeswap-unveils-launch-platform-for-bnb-meme-coins/">reached</a> a new all-time high of $782.
Not only that, BNB’s market cap even surpassed Solana to become the fifth largest cryptocurrency with a market cap of $113 billion on Dec. 4.
Though, it remains to be seen whether this trend will continue. At the time of writing, BNB has gone down by 4.78% in the past 24 hours, according to data from <a rel="noopener noreferrer nofollow" href="https://crypto.news/price/bnb/">crypto.news</a>. The token is currently trading hands at $734.21. BNB’s market cap has also gone down to $106 billion.
You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/62-of-solanas-dex-transactions-belong-to-pump-fun-what-keeps-it-going/"> 62% of Solana’s DEX transactions belong to Pump.fun — What keeps it going? </a>

PancakeSwap’s daily trading volume rockets to $1.27b after SpringBoard launch

crypto.news

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