PancakeSwap Overtakes Circle in Fees: Can It Overcome Tether Next?

• PancakeSwap earns $52.1 million weekly, surpassing Circle and trailing only Tether.
• Hyperliquid climbed past Pump and Jito by collecting $21.6M in fees over just one week.
• Boosted by V3 upgrades, PancakeSwap exceeded $100B in trading volume during May alone.

PancakeSwap is now the second leading platform on the global weekly fee list. In the last week, the decentralized exchange brought in $52.1 million in fees. The result helped it surpass Circle, which raised $44.6 million in the corresponding period. Now, Tether is the only crypto left in the lead. This achievement is an important milestone for the biggest DEX on the BNB Smart Chain.

Although PancakeSwap is now ahead of Circle in weekly fees, Circle is keeping the lead on a monthly basis, with $191.64M compared to PancakeSwap’s $112.67M. If PancakeSwap keeps its current growth, it could soon catch up. The increase clearly demonstrates that people are increasingly interested in trading.

Source: DefiLlama

Hyperliquid is also seeing strong growth in other areas of DeFi. The platform earned $ 21.6 million in fees last week, surpassing Pump and Jito, which generated $17.48 million and $12.61 million, respectively. These statistics prove that the industry is currently very competitive.

PancakeSwap Reclaims Spotlight With Record Surge

In May, PancakeSwap reached a new level with a trading volume of more than $100 billion. It bounced back from several years of inactivity with this increase. PancakeSwap is attracting attention within the larger decentralized finance sector.

PancakeSwap V3 is driving much of this growth by enhancing its trading system. V3 is the location where the majority of liquidity pool activity occurs on the platform. At present, its daily trading activity exceeds $10.87 billion. The upgrade made trading trending tokens faster and more cost-effective for users than before.

PancakeSwap’s results this week signify it has returned to solid performance. For DeFi traders, it’s reemerging as a preferred platform. By keeping up with the latest features and attracting more users, this exchange is soon expected to return to its top status. Many are watching to see if it can surpass Tether in the future.

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