PancakeSwap Smashes Records: $7.82B Trading Volume & 594K Users on BASE in July—DeFi Summer 2.0?

PancakeSwap just flipped the script—again. The DEX giant notched an all-time high in monthly volumes and users on BASE, proving DeFi’s appetite is far from satiated. $7.82 billion in trades? Check. 594K users? Double-check. Meanwhile, Wall Street’s still arguing over ETF expense ratios.

Why BASE? Lower fees, faster settlements, and a growing ecosystem turned this Ethereum L2 into a liquidity magnet. Retail and degens alike piled in, chasing yields or memecoins—take your pick.

The kicker? This isn’t just a blip. PancakeSwap’s dominance signals a broader shift: traders are bypassing CEXs for decentralized rails, even during peak volatility. (Sorry, Binance—your KYC forms can wait.)

One question lingers: Is this DeFi’s second wind—or just speculative froth? Either way, the numbers don’t lie. And neither does the chain.

PancakeSwap volume by function on Base

Source: PancakeSwap DEX (Dune)

Since launching on BASE in 2023, PancakeSwap has seen tremendous growth on one of Ethereum’s fastest-growing LAYER 2 networks. PancakeSwap has so far amassed 2.56 millionPress Release – For Immediate Release cumulative unique users and facilitated $38.6 billion in cumulative trading volume, further solidifying PancakeSwap’s position as one of the most popular DEXs in the Base ecosystem.

The growth occurs alongside the launch of PancakeSwap Infinity on BASE in July 2025. PancakeSwap Infinity, the most advanced iteration of PancakeSwap to date, introduces a suite of powerful features including access to dual pool types, dynamic fees, gas-optimized infrastructure on BASE. PancakeSwap Infinity’s open-source Hooks enable BASE developers to build custom strategies, incentives, and fee logic directly into liquidity pools. This is a step toward a more interoperable, modular, and user-friendly DeFi future, one where anyone, anywhere can plug in, trade, earn, or build better with Infinity on BASE.

In addition, PancakeSwap introduced one-click, Cross-chain Swaps in June 2025, where users can swap tokens across BNB Chain, Arbitrum, and BASE directly from the PancakeSwap interface. With no bridges, no external apps, and no complex steps required, this update removes technical friction and lowers the barrier to multichain participation.

Why This Matters for Crypto Users

This milestone shows how DeFi platforms such as PancakeSwap continue achieving scalability without compromising on performance or user experience. By leveraging Base’s low fees and fast transactions, combined with PancakeSwap Infinity’s capital efficiency and flexibility, users, traders and liquidity providers get better prices, more opportunities, and a more cross-chain experience that shapes the future of decentralized finance.