PancakeSwap Trumps Uniswap Daily Users, Despite Uniswap V4 Launch
- Activity on the PancakeSwap DEX increased, resulting in the BNB Chain volume surge.
- CAKE was oversold at an RSI of 29.12 but a lack of liquidity might not reverse the price trend.
- Uniswap surpassed PancakeSwap’s TVL despite a widespread drawdown in the metric.
In unusual circumstances, the Daily Active Users (DAU) of PancakeSwap (CAKE) outpaced that of Uniswap (UNI). According to Token Terminal data, Uniswap’s DAU was 59,600 while PancakeSwap registered 123,100 active users.
Known as two of the top Decentralized Exchanges (DEX), Uniswap boasts the highest number of trading pairs. However, PancakeSwap has proven to be the preferred platform for users interested in tokens operating under the Binance Smart Chain.
PancakeSwap Overtakes the Leader
Therefore, the hike in the DAU suggests that the number of unique public addresses that transacted on PancakeSwap surpassed Uniswap transactions.
One of the key reasons for this is PancakeSwap’s upgrade to v3, which gave increased access to liquidity providers. Consequently, this spurred on a 65% increase in the overall BNB Chain volume …
The post PancakeSwap Trumps Uniswap Daily Users, Despite Uniswap V4 Launch appeared first on Coin Edition.
PancakeSwap Trumps Uniswap Daily Users, Despite Uniswap V4 Launch
- Activity on the PancakeSwap DEX increased, resulting in the BNB Chain volume surge.
- CAKE was oversold at an RSI of 29.12 but a lack of liquidity might not reverse the price trend.
- Uniswap surpassed PancakeSwap’s TVL despite a widespread drawdown in the metric.
In unusual circumstances, the Daily Active Users (DAU) of PancakeSwap (CAKE) outpaced that of Uniswap (UNI). According to Token Terminal data, Uniswap’s DAU was 59,600 while PancakeSwap registered 123,100 active users.
Known as two of the top Decentralized Exchanges (DEX), Uniswap boasts the highest number of trading pairs. However, PancakeSwap has proven to be the preferred platform for users interested in tokens operating under the Binance Smart Chain.
PancakeSwap Overtakes the Leader
Therefore, the hike in the DAU suggests that the number of unique public addresses that transacted on PancakeSwap surpassed Uniswap transactions.
One of the key reasons for this is PancakeSwap’s upgrade to v3, which gave increased access to liquidity providers. Consequently, this spurred on a 65% increase in the overall BNB Chain volume …
The post PancakeSwap Trumps Uniswap Daily Users, Despite Uniswap V4 Launch appeared first on Coin Edition.