PancakeSwap Sees Surge in Trading Volume in January and February 2025, Cumulative Volume Surpasses $1 Trillion

# PancakeSwap Achieves Record Trading Volumes in Early 2025 ## PancakeSwap Sets New Highs Since 2021 Decentralized exchange PancakeSwap recorded its highest trading volumes since 2021 in January and February 2025, according to a report by The Defiant on March 11. Operating on the BNB Chain network, the platform processed $81.9 billion in transactions in January and $78.7 billion in February, according to DeFiLlama data. This represents a significant increase from the $1.6 billion and $1.4 billion recorded in the same months of 2024, respectively. On February 13, PancakeSwap reached another historic milestone by surpassing a cumulative trading volume of $1 trillion across all supported blockchain networks. Currently, PancakeSwap boasts a total value locked (TVL) of $1.5 billion and a market capitalization of $486 million. These record volumes highlight PancakeSwap's strong resurgence and ongoing dominance on the BNB Chain. # Drivers of PancakeSwap's Growth Several factors have contributed to PancakeSwap's growth, including its multichain expansion and diverse asset and liquidity options. PancakeSwap is now deployed on nine blockchain networks: BNB Chain, Ethereum, Aptos, Polygon zkEVM, zkSync Era, Arbitrum, Linea, Base, and opBNB. This expansion provides users with broader access to assets and liquidity. However, more than 90% of PancakeSwap's trading volume still originates from the BNB Chain. This underscores the exchange's leading position in the decentralized finance (DeFi) space alongside the resurgence of the BNB Chain ecosystem. # Surge in BNB Chain Users As of February 11, 2025, BNB Chain recorded a new all-time high of approximately 517 million unique users, following the milestone of surpassing 500 million unique addresses in January. This marks a 22% increase compared to around 423 million unique users at the same time last year. According to BscScan, BNB Chain currently hosts more than 527 million unique users. Colin Goltra, Chief Growth Officer at Morph, in an interview with The Defiant last month, noted that the upward trajectory of BNB Chain extends beyond mere market movements. He stated, "Binance Co-founder and former CEO Changpeng Zhao (CZ) is exploring the potential of cryptocurrencies, making BNB Chain a major beneficiary of this renewed focus." Goltra added, "Founder-centric leadership continues to be a crucial driver of adoption in this space. CZ is truly one of the legendary cryptocurrency founders, and the G.O.A.T (Greatest of All Time) has returned."