On Feb. 19, the emerging Decentralized Finance (DeFi) project PancakeSwap (CAKE) hit over $1,2 billion in daily volume.
CAKE topped the list of Decentralized Exchanges (DEX) using this metric, overtaking the most popular automated market maker (AMM) on Ethereum (ETH), Uniswap.
Currently, PancakeSwap has more than $1,6 billion passing through the platform per day, according to CoinGecko.
