PancakeSwap Surpasses Tether, Leading Crypto Revenue with $24.6 Million

On June 17, 2025, the decentralized exchange (DEX) PancakeSwap made history by achieving trading fee revenue of $24.6 million within 24 hours, according to data from DeFiLlama. This figure not only allowed PancakeSwap to surpass the stablecoin giant Tether (which reached $19.9 million) but also positioned the platform as the highest revenue-generating project in the cryptocurrency industry for the day. This revenue marks the second-highest in PancakeSwap’s history, only behind the record of $31.2 million set on May 19, 2021, during the peak of the crypto market.

In addition to this impressive revenue, PancakeSwap also recorded a trading volume exceeding $10 billion in the past 24 hours, the highest in four years. This figure accounts for nearly half of the total DEX trading volume across the market, affirming the platform’s dominant position in the decentralized finance (DeFi) sector. This surge in growth is attributed to the explosion of transactions on the Binance Smart Chain (BSC), where PancakeSwap is the leading DEX, alongside strong community interest in new tokens and yield farming programs.

While PancakeSwap leads in revenue, other platforms like Uniswap and Curve Finance also reported strong activity but have yet to surpass PancakeSwap’s impressive figures. With lower trading fees compared to Ethereum-based DEXs and quick processing speeds, PancakeSwap continues to be the top choice for traders seeking cost efficiency.

This achievement not only strengthens PancakeSwap’s position in the DeFi ecosystem but also raises high expectations for the future. The project recently announced plans to expand to other blockchains such as Aptos and Arbitrum, along with launching new products like perpetual futures and lending protocols. These steps promise to help PancakeSwap maintain its growth momentum and continue competing with major industry rivals.

With record revenue and massive trading volume, PancakeSwap is proving that DEXs remain a crucial pillar of the crypto market, even in the face of fierce competition. This event is not only a proud milestone for the development team but also a testament to the potential of DeFi in shaping the future of global finance.

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