PancakeSwap is one of the most famous decentralized exchanges today. Best known for its approach to trading on the BNB chain. However, the project has noted a solid influx of his TVL, making Aptors assets more valuable than his Ethereum counterpart.
PancakeSwap Liquidity in Aptos and Ethereum
Good to see established decentralized exchange gain more momentum. Following his recent FTX debacle, the centralized trading platform faced a great deal of scrutiny. As a result, users should thoroughly consider self-custody options and reduce their reliance on third-party infrastructure. Thankfully, there are various decentralized trading platforms out there. PancakeSwap is he one of the most popular after Uniswap.
Few people know PancakeSwap is active 3 networks today. Its core network remains the BNB chain, as expected. However, it also works with Ethereum and Aptos. The decision to investigate Aptos is noteworthy as it is a relatively new network. Additionally, users weren’t overly impressed with the initial throughput and unfulfilled promises, but things seem to have calmed down a bit. please.
November 25th at Pancake Swap TVL Aptos surpassed Ethereum. However, this is a minimal difference as Aptos is worth his $8.82 million compared to his $8.26 million on Ethereum. Today, Ethereum is back on top with $9.14 million and $9.03 million. Nevertheless, it’s interesting to see these networks “competing” over the PancakeSwap TVL despite their minimal contribution.
The total value of the popular DEX on the BNB chain is pegged at $4.58 billion, of which $4.56 billion is on the BNB chain. Although the DEX is currently multi-chain, it seems unlikely that Ethereum users will switch from Uniswap to PancakeSwap. Uniswap brings more trading volume and revenue for liquidity providers, but a little more competition is always beneficial.
overall liquidity surge
Notably, the overall PancakeSwap TVL increased by 30.6% this week. This comes after a few days ago, the locked total dropped to his $3.48 billion. Whales may have drawn and repositioned liquidity, but other factors may be involved. Overall, interest in this DEX is growing, benefiting the cryptocurrency industry. It is important to reduce reliance on centralized exchanges and unnecessary intermediaries.
PancakeSwap’s TVL growth Uniswapexpansion. As a result, the leading Ethereum DEX has seen its liquidity drop by more than 5.6% this week. Moreover, the BNB chain-based counterpart has risen by more than 8%, but is down almost 16% in a month. This could be because his BNB chain assets rose faster during this week’s short bull run. Still, the DEX industry is growing and this is what matters most.
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