Crypto Market Update: Uniswap’s Milestone and PancakeSwap’s Position

In a remarkable achievement within the decentralized finance (DeFi) space, Uniswap has become the first decentralized exchange (DEX) to reach an aggregate all-time volume of $3 trillion. This milestone was celebrated by Uniswap founder Hayden Adams, who shared the news on social media, accompanied by a screenshot from Dune Analytics. As of May 12, 2025, Uniswap’s daily trading volume stands at $3.3 billion, according to Dune Analytics, while DeFillama reports a slightly lower figure of $3 billion over the past 24 hours. This positions Uniswap as the leading DEX, commanding a 23% market share in daily volumes.

Despite this impressive volume, Uniswap’s total value locked (TVL) is currently just under $5 billion, which is about half of its 2021 all-time high. The overall DeFi TVL has also seen a decline, with DeFillama reporting $124 billion and DappRadar reporting $132 billion, with Ethereum holding more than half of this total. Meanwhile, Uniswap’s native token, UNI, has not mirrored the platform’s success, remaining down over 84% from its peak price of $45 in May 2021.

In the competitive landscape of DEXs, PancakeSwap holds the position of the second-largest by volume, with $2.7 billion and a 21% market share. This places PancakeSwap as a significant player in the DEX market, trailing closely behind Uniswap.

PancakeSwap’s Recent Developments

On May 11, 2025, Binance announced a reduction in collateral ratios for several major cryptocurrencies, including CAKE, the native token of PancakeSwap. This change, set to take effect on May 16, will impact the borrowing capacity under Binance’s Portfolio Margin system. Such adjustments are crucial for traders and investors using PancakeSwap, as they influence liquidity and leverage opportunities.

Additionally, a top analyst recently predicted an 80% rally for a small altcoin, HyperGPT, which has been gaining traction across major crypto exchanges, including PancakeSwap. This potential breakout highlights the dynamic nature of the crypto market and the opportunities it presents for traders and investors.

As of May 9, 2025, PancakeSwap’s close price was $2.48711, with a 52-week high of $4.44048 and a low of $1.36233. The platform’s market cap stands at approximately $807.78 million, reflecting its significant presence in the crypto ecosystem.

In summary, while Uniswap celebrates its milestone, PancakeSwap continues to be a key player in the DEX market, with recent developments and predictions indicating potential growth and opportunities for its users.