PancakeSwap Posts Record $205B Trading Volume in Q1 2025

PancakeSwap, the multi-chain decentralized finance platform, reported its best quarterly performance since launch with $205.3 billion in trading volume in Q1 2025, marking a 921% increase from Q1 2023. The platform experienced significant growth with an 81% rise in users and a 159% increase in transactions, contributing to a total trading volume of $1.33 trillion since inception. This surge coincided with the rollout of CAKE Tokenomics 3.0 on April 23, which eliminated traditional staking in favor of a buy-and-burn model and introduced a hard supply cap of 450 million tokens. Despite these robust metrics, CAKE has seen a 26% decline over the past 30 days and is currently trading at $1.97, consolidating below a key resistance level of $2.08. The primary user activity driving these figures is on the BNB Chain, with notable participation also coming from Base, Arbitrum, and Ethereum.