A remarkable shift in the decentralized exchange (DEX) space has seen PancakeSwap become the top DEX, surpassing Uniswap. On Wednesday, the DEX recorded $1.64 billion in trading volume. This was not only enough to put PancakeSwap ahead of Uniswap, which recorded $1.04 billion in volume, but also to distance itself from Solana’s Raydium, which logged $334.98 million in volume. These figures make PancakeSwap not just the most active DEX in terms of daily trading volume, but also the clear market leader in the DEX space on Wednesday. What’s Fueling PancakeSwap’s Meteoric Rise? PancakeSwap’s growing activity can be attributed to some
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