Latest news with #PancakeSwap
Yahoo
22-07-2025
- Business
- Yahoo
Decentralized Crypto Exchanges Hit Record Market Share in Q2 Volume: CoinGecko Report
Decentralized exchanges, or DEXs, saw their highest-ever market share in spot crypto volume as trading on their centralized counterparts such as Binance declined in the second quarter of the year, CoinGecko reported. Among centralized exchanges (CEXs), Binance held onto the top place in spot trading market share, even though its quarterly volume dropped to $1.47 trillion from over $2 trillion, the report said. endured even steeper decrease losing 61% of its volume through the quarter. Coinbase also booked less volume. The declines for CEXs happened as bitcoin (BTC) spiked to a fresh all-time record, which usually bolsters trading appetite. Spot trading volume on DEXs surged to $876.3 billion, rising over 25% from the previous quarter, the report noted. Meanwhile, centralized exchanges (CEXes) saw a sharp pullback, with spot volume across the top platforms falling nearly 28% to $3.9 trillion. This means the DEX-to-CEX trading volume ratio jumped to a record high 0.23, perhaps pointing to a growing investor demand for trading directly on-chain. The standout was PancakeSwap, which became the largest DEX by volume after growing more than fivefold quarter-over-quarter. The exchange processed over $392 billion in trades, accounting for nearly half of all DEX activity. The spike follows Binance's launch of Binance Alpha in May, which began routing trades through PancakeSwap and helped elevate BNB Smart Chain above Ethereum, Base, and Solana as the most-used blockchain. Perpetuals trading on DEXs also hit a record, with $898 billion traded during the quarter and Hyperliquid (HYPE) dominating the space with nearly 73% of market share, per the report. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Crypto Insight
05-07-2025
- Business
- Crypto Insight
Turkish authorities block PancakeSwap in crackdown on crypto websites
Turkey's Capital Markets Board, the country's financial regulator, announced it had blocked access to websites 'providing unauthorized crypto asset services.' In a Thursday notice, the Capital Markets Board said it had taken legal action against 46 websites, including decentralized exchange PancakeSwap and Cryptoradar, in a crackdown on crypto services offered to residents of Turkey. The regulator cited the country's Capital Markets Law as its authority to block the websites. PancakeSwap reported more than $325 billion in trading volume for June, making it one of the most significant decentralized exchanges alongside Uniswap and Curve. It's unclear how Turkish authorities determined the platform had been offering 'unauthorized' services. Cointelegraph reached out to a PancakeSwap spokesperson for comment but had not received a response at the time of publication. Regulators and authorities in certain countries have acted to block websites offering crypto services, often saying the companies had not been registered or were facilitating illicit transactions. The governments of Kazakhstan, Venezuela, the Philippines, Russia and others have previously cracked down on similar websites. Strengthening crypto rules in Turkey Turkey's Capital Markets Board has had full regulatory control over crypto asset service providers offering services to residents since March, when it created a framework establishing standards and requirements. Since February, crypto users in Turkey have been required to provide identifying information when executing transactions of roughly $425 or more. Turkish residents are permitted to purchase, hold and trade cryptocurrencies, but the country banned using digital assets for payments in 2021. A local law firm was scheduled to challenge the ban in a May hearing. Source:
Economic Times
04-07-2025
- Business
- Economic Times
Cryptocurrency Live News & Updates : Sweden intensifies crypto asset seizures without crime proof
05 Jul 2025 | 01:55:13 AM IST Sweden's Justice Minister has directed law enforcement to increase the confiscation of unexplained cryptocurrency holdings, even in the absence of direct evidence of criminal activity, under a new law. Sweden's crackdown on cryptocurrency is intensifying as Justice Minister Gunnar Strömmer orders law enforcement to seize unexplained digital assets without needing proof of a crime. This directive follows a law that has already led to the confiscation of $8.4 million in assets. Meanwhile, the market sees significant movements, with the Humanity token surging 40% amid a broader altcoin dip, driven by its recent listing on a major South Korean exchange. In the meme coin sector, PEPE rallies as whale activity hints at potential growth for Pepeto, a new player focusing on sustainable growth and utility. Additionally, Maple Finance's SYRUP token is gaining traction as smart money investors accumulate during a dip, reflecting confidence in its growth potential. On the regulatory front, Turkey has banned PancakeSwap and other decentralized exchanges, raising concerns about the future of platforms like Uniswap. This regulatory environment highlights the ongoing tension between innovation in the crypto space and the need for oversight, as countries grapple with the implications of digital assets on their economies. Show more
Yahoo
17-06-2025
- Business
- Yahoo
Polyhedra Blames Liquidity Attacks for Sudden 80% Price Drop in ZKJ, Promises Buyback
Polyhedra, a crypto protocol whose company reached unicorn status last year, is promising a buyback plan and additional steps to rebuild trust in the crypto community, days after its token fell more than 80% within minutes. 'Now we need to figure out the current situation and we need to prevent future financial attack,' founder Tiancheng Xie wrote in an X post earlier Tuesday.' 'We will buy back more,' Xie added. On June 15, ZKJ plunged from roughly $2 to just 32 cents in under an hour, losing nearly $500 million in market cap. An initial post‑mortem released in Asian morning hours laid out various factors resulting in the collapse, including a supposed coordinated liquidity attack on PancakeSwap's ZKJ/KOGE pool, substantial ZKJ deposits by market-making company Wintermute into centralized exchanges, and a cascade of liquidations on CEXs like Bybit. On-chain data reveals that several addresses had drained millions from the ZKJ/KOGE pool. One removed about $4.3 million in liquidity provider (LP) tokens and dumped 1.57 million ZKJ; others followed, unloading close to 1 million ZKJ each. When the shallow KOGE/USDT pool couldn't absorb the sell pressure, activity spilled over into the deeper ZKJ/USDT pool, triggering a liquidity spiral, the team claimed. Further pressure came from a Wintermute-associated address that deposited over 3.39 million ZKJ into centralized exchanges in the crash window, the team said. However, in an X post, Wintermute co-founder Evgeny Gaevoy said the team was selling spot and going long via ZKJ-tracked futures. As spot prices collapsed, roughly $94 million in leveraged long positions were liquidated between 12:00 and 14:00 UTC, including multiple six-figure margin calls that compounded the crash. To stem the hemorrhage, Polyhedra's team injected approximately $30 million in USDT, USDC, and BNB as DEX liquidity. It added that no ZKJ holdings belonging to the team were sold. Polyhedra affirms it's conducting a full technical investigation, and its upcoming buyback initiative aims to both offset the attack's impact and deter similar future exploits. Token prices rose by more than 50% following the release of the crash report, but all gains were reversed throughout the day, and prices are now up just 1.3% over the past 24 hours. Sign in to access your portfolio
Yahoo
17-06-2025
- Business
- Yahoo
BNB Climbs as Transaction Activity Surges, DEX Volume Tops $100B
Binance Coin (BNB) climbed over the last 24 hours even as geopolitical tensions rattled the markets, driven by surging usage of the BNB Chain, which recorded more than 16 million transactions a day earlier this month. That transaction figure marks a massive jump when from the near 4 million transactions a day processed earlier in the year, according to Nansen data. PancakeSwap, the network's main decentralized exchange, played a key role with $2.7 billion in daily volume. In aggregate, BSC handled over $104 billion in DEX volume over the last month, outpacing both Solana and Ethereum, according to DeFiLlama data. This growth helped BNB push through volatility sparked by the clashes between Israel and Iran, which temporarily dragged bitcoin under $104,000. BNB saw strong buying interest throughout the day, holding firm at the $646 level and topping out at $658. That strength was backed by unusually high volume and what appeared to be institutional interest. Technically, BNB is benefiting from a string of higher lows, a sign of a building uptrend, according to CoinDesk Research's technical analysis data model. Analysts also pointed to consistent above-average volumes, suggesting more than just retail enthusiasm. Open interest in BNB derivatives has fallen 6.9% week-over-week to $750 million, signaling caution among traders. Yet the broader Fear & Greed Index sits at a neutral 51, suggesting sentiment hasn't tipped bearish despite geopolitical jitters. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Sign in to access your portfolio
