PancakeSwap Sees Record Q1 Trading Volume Despite CAKE Price Drop

PancakeSwap has just clocked its best quarter ever, surpassing $205 billion in trading volume during Q1 2025. This remarkable growth marks a major milestone for the exchange since its inception. The platform has witnessed a meteoric rise since early 2023, with trading volume exploding by 921%, user numbers surging by 81%, and transaction count rising by 159%. 5.83 million unique traders joined the platform during Q1 2025 – the highest since late 2021, according to Dune Analytics.