PancakeSwap Leads DEX Trading to Record $410 Billion Volume – Coincu

ChainCatcher data reveals that decentralized exchanges reached a record $410.2 billion trading volume in May 2025, with PancakeSwap leading this surge with $171.6 billion.

This increase in trading volume marks a historical peak, indicating rising interest in decentralized finance solutions.

PancakeSwap Drives DEX Market to $410 Billion High

PancakeSwap emerged as a leader in a rapidly expanding DEX market, registering a remarkable trading volume of $171.6 billion. The cumulative DEX trading volume reached $410.2 billion, accounting for 25% of the global spot trading volume. Separate platforms like Aerodrome and PumpSwap also significantly contributed to this historic achievement, each recording volumes nearing $15 billion.

The considerable growth in DEX trading volumes reveals increased market preference for decentralized trading mechanisms. Stakeholders recognize DEXs as pivotal to achieving greater market transparency and security.

“I focus on the theoretical aspects of Bitcoin from both computer science and economic perspectives.” – Clara Shikhelman, Head of Research, Chaincode Labs

May 2025: DEX Trading Surpasses Quarter Global Spot Volume

Did you know? In May 2025, decentralized exchanges hit 25% of the global trading volume, a historical milestone highlighting the market’s shift towards decentralization.

PancakeSwap (CAKE) saw a price of $2.38, with a market cap of $764.69 million, according to CoinMarketCap. Its trading volume increased by 54.04%, leading to a 3.13% price hike over the last 24 hours. The price increased notably by 42.28% in 90 days.

According to Coincu research, DEX growth may drive regulatory interest further, as authorities reassess frameworks to accommodate these trading systems. Historical trends suggest shifts toward decentralized governance could transform both financial and technological landscapes.