BSC Binance Smart Chain | PancakeSwap trading volume surpasses Uniswap and SushiSwap
The Binance Smart Chain (BSC) has the largest Automated Market Maker (AMM) exchange platform, PancakeSwap, within the Binance Smart Chain ecosystem. According to data from both CoinMarketCap and CoinGecko, PancakeSwap has surpassed the 24-hour trading volume of Ethereum's largest platforms, Uniswap and its competitor, SushiSwap.
From the trading volume perspective, regardless of the data platform used, PancakeSwap's trading volume exceeds that of the two major competitors on Ethereum. However, in terms of liquidity, Uniswap still leads with $47.2 billion.
For liquidity providers, providing liquidity to AMM exchange platforms is mainly for earning transaction fees and obtaining liquidity mining rewards. By using the ratio of trading volume to liquidity, we can estimate how much transaction fees a platform's liquidity providers can earn.
Advertisement - Please scroll down for more content
Currently, PancakeSwap has surpassed the other two platforms, and with the liquidity mining rewards, the momentum of Binance Smart Chain seems unstoppable.
Table of Contents
Price Changes of UNI, SUSHI, CAKE
Performance of three coins in the past seven days: Uniswap UNI at 20.37 -5.1%, SushiSwap SUSHI at 14.97 -7.4%, PancakeCAKE at 18 +199.2%. The price changes are for reference only and not investment advice. Pancake is still a new platform with significant price volatility.
BNB Surges
Additionally, BNB has reached a high of 283 and is currently at 260. It has seen a 113% increase in the past seven days.
Related
- Gemini decides to exit the Canadian market, will close all customer accounts by the end of the year.
- Factors influencing tokens of cryptocurrency exchanges, looking at Binance Coin (BNB) trends from the BIS report
- Nigeria's Central Bank accuses Binance of illegally operating banking activities such as fiat currency exchange and P2P markets.