Battle of the DEXes: Day 1
A look at the daily volume and swap count on Uniswap, PancakeSwap, Pangolin and QuickSwap
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Pancakeswap started the month of February with $75M in 24h-volume across its top 5 pairs and peaked at $1.16B on Feb 19 as it became the first billion-dollar project on BSC. This represents an increase of 1400% in 24h-volume. Pancakeswap also processes 6x as many transactions as Uniswap.
Quickswap on Polygon started the month with $150K in 24h-volume across its top 5 pairs and peaked at $6.6M on 9,500 swaps. This is a 4300% increase over the course of the month.
Pangolin on the Avalanche C-Chain launched on February 9th with $970K in transaction volume and peaked just under $35M in 24h-volume across its top 5 pairs by the end of the month. This represents a 3500% increase from its first day to the end of the month.
Uniswap posted consistent 24h-volumes and swap counts across its top 5 pairs throughout February averaging $290M and 18,000 swaps per day. Volume peaked to $800M on February 23rd prompted by the crash in ETH prices on Kraken.
Check back tomorrow for the next visual comparison of the different trading volumes on these DEXes.
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