Multichain decentralized Exchange (DEX) Pancakeswap (Cake) has reached an important step, recording a summit of $ 205.3 billion in quarterly trading volume for the first quarter of 2025. This marks the largest negotiation activity since the creation of the platform.
In addition to the overvoltage of the negotiation volume, Pancakeswap also noted a significant increase in user participation, the number of unique traders reaching its highest level since the fourth quarter of 2021.
Pancakeswap is a new record of all time in the trading volume
Beincrypto recently indicated that the Pancakeswap negotiation volume had increased by $ 81.7 billion in February, marking the highest volume of monthly trading since 2021. In January, the DEX reached a commercial volume of $ 78.4 billion.
However, according to Dune Analytics data, March has experienced a slight slowdown in growth, the volume reaching $ 45.1 billion. Despite this, the impressive performance in T1 2025 brought the total negotiation volume to $ 1.3 billion.
“With 2025 already at an explosive start, the protocol is experiencing a record dynamic both in user engagement and ecosystem activity,” said the exchange in Beincryptto.
In particular, the increase is not something new, but the momentum has been developing regularly since 2023. Over the past two years, the quarterly trading volume of Pancakeswap has skyrocketed from $ 20.1 billion in the first quarter of 2023 to a record increase of 205.3 billion dollars in the first quarter of 2025, representing a remarkable increase of 922%.
This increase in the volume of negotiation was accompanied by significant gains in user engagement. The number of unique traders on the platform increased by 81%, from 3.2 million to T1 2023 to 5.8 million in T1 2025, the highest level since T2 2021.
Likewise, transaction activity on the platform has experienced substantial growth. The number of transactions increased from 44.1 million to T1 2023 to 114.4 million in T1 2025, an increase of 159%.
“These figures represent not only the best quarter of Pancakeswap to date, but also highlight a significant jump in adoption and use at all levels,” added the scholarship.
The milestone comes as Pancakeswap is entering a new phase with the official implementation of Cake Tokenomics 3.0, which started on April 23.
In addition, the platform will switch to a burning mechanism, targeting an annual burn of approximately 5.3 million tokens. In addition, daily cake emissions will be removed from 29,000 to 20,000. The ultimate goal is to bring it as low as 14,500 tokens, reporting a change to greater durability.
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