In August 2025, Uniswap reclaimed its position as the leading decentralized exchange with a trading volume of $111.8 billion, according to a report from CoinGecko. PancakeSwap followed with a volume of $92 billion.
Uniswap Returns to DEX Market Leadership
Uniswap once again ranks as the top decentralized exchange, showcasing an impressive trading volume of $111.8 billion in August 2025. Data from CoinGecko indicates that the platform significantly outperformed PancakeSwap, which reported a trading volume of $92 billion for the same period.
PancakeSwap Slips to Second Place but Maintains Strong Volume
While PancakeSwap recorded a significant trading volume of $92 billion in August, it was not enough to retain the top position. The platform remains popular among BNB Chain users, known for its fast transaction speeds and low fees. The slight dip in PancakeSwap's market share may be attributed to increased competition and a shift in trader sentiment towards Ethereum-based assets.
The Ongoing Battle for DEX Dominance
The race for DEX supremacy is ongoing. Monthly fluctuations in trading volume often reflect broader market trends and user preferences. Uniswap's recent ascent may be fueled by upcoming protocol upgrades and growing institutional interest. Meanwhile, PancakeSwap may rebound with cross-chain enhancements and ecosystem partnerships.
The struggle for dominance in the DEX market remains one of the most dynamic narratives in the crypto industry. With increasing trader interest and continuous innovation from developers, both Uniswap and PancakeSwap continue to hold key positions.
