PancakeSwap Launches Crosschain Swaps on Solana Amid Aster DEX Competition
Highlights
- PancakeSwap’s Crosschain Swap feature now supports Solana.
- The multichain support now expands to seven blockchains.
- This comes amid the increased competition among DEXs.
PancakeSwap now supports Solana in its Crosschain Swap feature, enabling token swaps across various blockchains. This update comes amid increased competition with the launch of the Aster DEX, which also enables
PancakeSwap Expands Cross-Chain Swaps To Solana
In a blog post, the top decentralized exchange (DEX) announced that its Crosschain Swap feature now supports Solana. It further noted that with this update, users can swap tokens across seven blockchains directly within its platform using a single transaction.
PancakeSwap now supports token swaps across a total of seven different blockchains. The chains include top layer-1 networks Ethereum, BNB Chain, Solana, alongside Arbitrum, Base, ZKsync, and Linea. Since the cross-chain swaps are available via the PancakeSwap UI, users no longer need to navigate between multiple apps or bridges.
The DEX stated that the Solana Crosschain Swap feature is powered by Relay, a multichain payment network that facilitates transfers between blockchains. Notably, this development comes amid increased competition among DEXs, including the Aster DEX, which just launched.
As CoinGape reported, Binance co-founder Changpeng “CZ” Zhao endorsed Aster, noting that it isn’t a BNB Chain exclusive perpetual dex and that it supports multiple chains natively, including Solana. CZ added that Aster is “different from other perp dex designs.”
DEX Volume Heats Up
DeFiLlama data shows that DEX volume is heating up, reaching a high of $16 billion on September 22. Further data from DeFiLlama shows that PancakeSwap led the way in 24-hour trading volume, with $3.419 billion traded on the platform.
Uniswap, Meteora, Fluid, and Raydium completed the top 5, with trading volumes of $2.6 billion, $1.2 billion, $1 billion, and $767.97 million, respectively. Aster and Hyperliquid ranked at 8th and 9th, with trading volumes of $533 million and $514 million, respectively.
Meanwhile, in terms of 7-day trading volume, Uniswap comes out on top with a trading volume $23 billion. PancakeSwap is second with a trading volume of $20 billion. Top DEXs Hyperliquid and Aster boast trading volumes of $4.81 billion and $2.4 billion, respectively.
Amid the DEX competition, it is worth mentioning that Aster just launched 300x leverage trading for HYPE, Hyperliquid’s native token. This is one of the few tokens with such high leverage on the platform.
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