Deep Dive into the BSC Ecosystem: PancakeSwap Trading Volume Surpasses $1.64 Billion, Mubarak Hype Drives New Highs

Introduction

On March 18, 2025, a set of data ignited excitement in the crypto community: the decentralized exchanges (DEXs) within the BSC (BNB Smart Chain) ecosystem recorded a 24-hour trading volume of $1.64 billion, surpassing Solana and ranking first among public blockchain DEXs. As the core pillar of the BSC ecosystem, PancakeSwap claimed the top spot in trading volume. Recently, the hype around Mubarak token, especially CZ’s purchase of Mubarak on PancakeSwap, has fueled the trend even further. Is this just short-term speculation, or does it signal the rise of the BSC ecosystem? This article will explore the synergy between PancakeSwap, BSC, and Mubarak and their future potential.

Trading Volume Surge: PancakeSwap and Mubarak’s Impact

(Source: Defillama)

The DEX trading volume on BSC surpassed $1.64 billion, with PancakeSwap standing out, outperforming other competitors on the chain and surpassing Uniswap and Raydium to become the DEX trading volume leader. In March 2025, the crypto market saw a revival of the meme coin frenzy. On March 16, CZ purchased 20,150 Mubarak tokens with 1 BNB (approximately $600) on PancakeSwap, igniting market enthusiasm. Mubarak’s price then surged over 300%, briefly reaching a market cap of $150 million, bringing massive trading traffic to BSC and PancakeSwap.

This hype not only boosted BSC’s on-chain activity but also potentially benefited PancakeSwap’s native token, CAKE. The popularity of Mubarak attracted more users to PancakeSwap, significantly increasing trading volume and liquidity. At the same time, the decline in Solana‘s DEX trading volume provided BSC with an excellent opportunity to surpass it.

BSC Ecosystem Growth: PancakeSwap and Mubarak’s Synergy

PancakeSwap’s Core Strengths

As the leading DEX in the BSC ecosystem, PancakeSwap is favored for its low trading fees (only a fraction of Ethereum), high liquidity pools, and user-friendly interface. CZ’s Mubarak purchase on PancakeSwap V3 helped push its daily trading volume past $647 million, capturing nearly 61% of the DEX market share. Through CAKE staking and liquidity mining incentives, PancakeSwap continuously attracts users, and Mubarak’s hype further amplified its trading advantage.

BSC’s Technical Advantages

BSC is known for its low costs and high transaction throughput (TPS reaching hundreds), making it an ideal platform for meme coin speculation. The recently launched SpringBoard (similar to Pump.fun’s token launchpad) has incubated projects like Mubarak, injecting fresh energy into the ecosystem. Mubarak’s surge proves BSC’s ability to respond quickly to market trends, while PancakeSwap serves as the perfect hub for this traffic.

(Source: Defillama)

Community and Developer Growth

The number of active addresses on BSC continues to rise, and developers are accelerating their presence in DeFi, NFT, and GameFi. Mubarak’s success has boosted community confidence and could encourage more innovative projects to launch on BSC and PancakeSwap.

Challenges for BSC and PancakeSwap: Risks Behind the Mubarak Hype

Centralization Concerns

BSC’s relatively centralized nature (with fewer validator nodes) has been a long-standing debate. CZ’s public purchase of Mubarak may reinforce the perception of internal manipulation, potentially affecting ecosystem trust. In contrast, Ethereum and Solana have stronger decentralization.

Sustainability of Mubarak’s Hype

Meme coins like Mubarak significantly contributed to the $1.64 billion trading volume. But can this hype be sustained? If the Mubarak frenzy fades, PancakeSwap and BSC’s trading volume might decline. Market sentiment fluctuations and regulatory risks should also be considered.

Security and Trust

BSC faced criticism after the 2022 cross-chain bridge attack, which resulted in over $500 million in losses. Mubarak’s rapid rise is exciting, but it may also attract hackers. PancakeSwap and BSC must enhance security to maintain user confidence.

Future of BSC and PancakeSwap: Is Mubarak Just the Beginning?

Short-Term Outlook

With Mubarak driving momentum, PancakeSwap and BSC’s trading volume will likely remain strong in the short term. CZ’s future actions will be crucial—if he continues engaging, it could sustain ecosystem enthusiasm. However, once the hype fades, PancakeSwap must introduce innovative features to retain users.

Long-Term Potential

BSC has a promising future in DeFi, GameFi, and Web3. As its core DEX, PancakeSwap can strengthen its position through cross-chain expansion and new product offerings. If BSC balances efficiency and decentralization, it may evolve from a “low-cost platform” to an “innovation leader.” Mubarak’s success could be just the beginning, with more quality projects emerging in its wake.

Competitive Landscape

Against Solana, Ethereum, and Layer 2 solutions, BSC’s low-cost advantage stands out. If PancakeSwap can achieve technological upgrades (such as a faster consensus mechanism) or governance improvements, it will help BSC stand out in the blockchain competition.

Conclusion

With $1.64 billion in trading volume, the Mubarak frenzy, and PancakeSwap’s strong performance, BSC’s vitality is undeniable. From low-cost transactions to community-driven innovation, BSC and PancakeSwap are shaping a new chapter for public blockchains. However, challenges remain—whether Mubarak’s hype translates into long-term growth remains to be seen.

Author: Rooick Z., Gate.io Researcher
This article represents the author’s views only and does not constitute financial advice. Investing carries risks—please make informed decisions.
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