Decentralized exchange (DEX) PancakeSwap<\/a> set a new quarterly record in Q3 with $749 billion in trading volumes, marking a 42% increase from Q2.<\/p>\n In Q2, the platform recorded $529 billion, following $205.3 billion in Q1, marking the first time since its 2020 launch that PancakeSwap has posted three consecutive quarters of record growth, according to data from Dune.<\/p>\n The PancakeSwap team told The Defiant that the top token pairs by volume for Q3 included BR-USDT ($80.72 billion), USDT-WLFI ($72.20 billion), and KOGE-USDT ($66.52 billion). The DEX also reached a new all-time high of 11.8 million users in Q3. <\/p>\n Overall, the DEX has now surpassed $2.49 trillion in cumulative trading volume across 10 supported blockchains, per Dune.<\/p>\n The figures underscore PancakeSwap\u2019s growing influence, partly fueled by the April launch of PancakeSwap Infinity<\/a>, which introduced new liquidity pool types (CLAMM and LBAMM), customizable smart contracts called \u2018hooks,\u2019 and improved gas efficiency.<\/p>\n Another driver is PancakeSwap\u2019s growing ecosystem \u2013 currently, the DEX has a total value locked (TVL) of $2.5 billion and is the second-largest DEX by 24-hour volume, recording $3 billion in the past day alone, per DeFiLlama. It also ranks as a top DEX on BNB Chain, Base, Arbitrum, and Ethereum.<\/p>\n Meanwhile, the rise in users reflects growing engagement with decentralized finance (DeFi), a trend mirrored across the broader sector, which has recorded a TVL increase of 85% from April to October<\/a>, now around $170 billion.<\/p>\n \u201cFor everyday users, higher trading volumes aren\u2019t just numbers, but also mean deeper liquidity and more reliable prices when swapping tokens,\u201d a press release viewed by The Defiant reads. \u201cFor projects, it means access to one of the most active, vibrant, and global user bases in DeFi.\u201d<\/p>\n The Q3 milestone follows several platform updates this year, including a cross-chain swap feature enabling token swaps across seven chains. <\/p>\n![\"Top](\"https:\/\/thedefiant.io\/_next\/image?url=https%3A%2F%2Fcdn.thedefiant.io%2Fpasted-1759355379680-png-87b29d80-7fab-45ca-9ee6-6d0125ca410a.png&w=3840&q=100\"\/)