PANews reported on December 25 that according to Cointelegraph, the total transaction volume of decentralized exchange (DEX) PancakeSwap reached 310 billion US dollars in 2024, a year-on-year increase of nearly 179% from 111 billion US dollars in 2023. PancakeSwap reported that mainly due to L2 networks Arbitrum and Base, the cryptocurrency transaction volume on Arbitrum increased by 3,656% year-on-year to 13.2 billion US dollars, while the cryptocurrency transaction volume on Base increased by 3,539% year-on-year to 11.6 billion US dollars by 2024. In addition, PancakeSwap's transaction volume increased by 179% year-on-year, reflecting positive market sentiment and increased activities in the DeFi and DEX fields.