PancakeSwap V3 Has Surged to the Forefront of the Decentralized Exchange Landscape

According to a recent analysis by AMBCrypto, PancakeSwap V3 has surged to the forefront of the decentralized exchange landscape in May 2025.

May saw Pancake (V3) surge to the forefront of the decentralized exchange landscape, already listed as the top 12 DEX, is now making headlines for a different reason.

Its strength in May was unmatched as it pulled in $14 billion in weekly trading volume, a feat that has seen the exchange ranked as the world’s biggest.

This is a testament to the growing engagement with DeFi protocols and the increasing levels of decentralized trading activity.

According to recent data from CryptoRank.io, Pancake (V3) is currently ranked as the 12th largest cryptocurrency exchange.

Top 12 crypto exchanges by trading volume. Credit: CryptoRank.io/X

This ranking considers a broad range of factors, including trading volume, liquidity, and the number of listed tokens.

Its stellar performance

Now, focusing on the trade volume aspect specifically, recent figures from CoinMarketCap at the time of writing on May 28, showed that Pancake (V3) had an incredible 58.04% increase in trading volume over the past week.

This puts the Binance (BNB) Chain-native exchange at the top spot for total DEX trade volume. Of the total $24.2 billion in volume traded across major DEXs in the past week, Pancake (V3) contributed 29.18%.

It is currently handling an astounding $14.168 billion in weekly volume and has a daily TVL of $1.67 billion.

In comparison, Uniswap, which is based on Ethereum (ETH), is ranked second with a higher TVL of $3.93 billion. However, Uniswap faced a significant 50.56% decrease in weekly trades, bringing its volume to $8.611 billion.

What could have caused this flip?

This shift in leadership can be partially attributed to the lower transaction costs, quicker settlement times, and overall seamless user experience offered by the BNB Chain.

Its surge in trading volume has also been driven by the increasing enthusiasm around memecoins, many of which are native to the BNB Chain.

This is highlighting how, while other platforms like Raydium (RAY) are struggling despite earlier bullish predictions, Pancake (V3) has capitalized on shifting market trends.

Impact on the token’s prices

However, despite Pancake’s recent dominance in trading volume, the latest price movements from the tokens tell a different story.

In terms of short-term gains, appears to be in the lead with a strong 5.46% increase, bringing its price to $3.54.

Uniswap follows closely with a 0.90% uptick, pushing its price to $6.46, while Pancake trails slightly with a modest 0.15% rise, settling at $2.46.

This reversal in momentum showcases the rapidly changing dynamics within the DEX landscape.output: According to a recent analysis by AMBCrypto, PancakeSwap V3 has surged to the forefront of the decentralized exchange landscape in May 2025.

While it already leads the list of the top 12 DEXes globally, what’s truly turning heads is its massive weekly trading volume, surpassing $14 billion.

PancakeSwap tops the DEX charts

This impressive feat has firmly positioned PancakeSwap as the world’s leading DEX, reflecting growing user engagement and a surge in decentralized trading activity.

Source: CryptoRank.io/X

In terms of trading activity, PancakeSwap recorded a 58.04% weekly surge, according to CoinMarketCap.

Riding this wave of momentum, PancakeSwap, native to the Binance [BNB] Chain, now accounts for 29.18% of total DEX trade activity, with a staggering $14.168 billion in weekly volume and a daily TVL of $1.67 billion.

This surge has pushed it ahead of Ethereum [ETH]-based Uniswap, which, despite retaining a higher TVL of $3.93 billion, has witnessed a dramatic 50.56% drop in weekly trades, falling to $8.611 billion in volume.

What led to this flip?

This rise can be attributed to a combination of favorable factors, including BNB Chain’s lower transaction costs, quicker settlement times, and a seamless user experience.

Its surge in trading volume has also been fueled by growing enthusiasm around memecoins native to the BNB Chain.

Source: Alva/X

This shows that while other platforms like Raydium [RAY] have struggled, despite earlier bullish sentiment, PancakeSwap has capitalized on shifting market trends, cementing its dominance in the DeFi ecosystem as altcoin momentum builds.

Impact on the token’s prices

However, despite PancakeSwap’s recent dominance in trading volume, the latest price movements paint a different picture.