PancakeSwap [CAKE]: Jump in active user count leads to a surge in revenue
Housed within the BNB Chain, PancakeSwap is a decentralized exchange that allows users to trade various cryptocurrencies.Per data from, in the last 30 days, the transactions completed on PancakeSwap totaled 10.26 million, rallying by 14%.
At press time, the volume of all transactions completed on PancakeSwap in the last month stood at a whopping $26.52 billion.As expected, the growth in user activity and transaction count in the last month culminated in a corresponding growth in protocol revenue within the same period, data fromIn the last 30 days, revenue on PancakeSwap spiked by 55%, bringing its total revenue during that period to $3.04 million.
According to Token Terminal, fees paid by the protocol’s users in the last month amounted to $9.51 million.With a revenue of $3.04 million in the last month, PancakeSwap ranked as the sixth decentralized application with the highest revenue in the last 30 days, after Convex Finance, Lido Finance, GMX, dYdX, and OpenSea.On a year-to-date , CAKE’s price has increased by 30%. However, according to, with a decline in buying activity since 8 February, the alt’s price has embarked on a downtrend.
The MACD line intersected with the trend line on 8 February, marking the re-entry of bears into the CAKE market following a prolonged period of price growth.
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