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

PancakeSwap’s daily trading volume reached $1.27 billion on December 4; This was the highest single-day trading volume the decentralized exchange has seen since March this year.

According to data from PancakeSwap, BNB (BNB) Chain’s largest decentralized exchange saw daily trading volume increase by more than 60% compared to the previous day after the DEX launched its token launch platform PancakeSwap SpringBoard on December 4. .

PancakeSwap currently ranks second on DeFi Llama’s DEX leaderboard in terms of trading volume, surpassing Raydium, Orca, and Aerodrome. The platform accumulated $2.32 billion worth of crypto trading volume in the last 24 hours.

The DEX failed to cross the $1 billion threshold since March 2024 until it announced the launch of a launch platform for BNB-backed meme coins, which many thought was similar to Pump.fun, the Solana-backed token. The launch platform famous for being the “meme money market”.

Pump.fun’s daily trading volume fell nearly 13%, from $230.4 million on Dec. 3 to $201.4 million on Dec. 4, according to Dune analytics data. At the time of writing, the platform had released a total of 4.3 million tokens. .

Pump.fun has been credited with popularizing Solana (SOL)-backed meme coins in the crypto space. As previously reported by Crypto.news, Pump.fun contributed to 62.3% of Solana’s DEX transactions in November.

PancakeSwap Springboard can leverage Binance Coin by providing users with a platform where they can create and trade BNB Chain meme coins with no coding required. Following the launch of PancakeSwap Springboard, BNB reached its all-time high of $782.

Not only that, BNB’s market cap surpassed even Solana to become the fifth largest cryptocurrency with a market cap of $113 billion on December 4.

However, time will tell whether this trend will continue. According to Crypto.news data, at the time of writing, BNB has fallen by 4.78% in the last 24 hours. The token is currently trading at $734.21. BNB’s market value also dropped to $106 billion.