Cryptocurrency is a type of digital currency that uses advanced technology to secure transactions and operate independently of any central authority. Transactions are recorded on a public digital ledger called a blockchain, which is maintained by a network of computers worldwide.

PancakeSwap happens to be a decentralized cryptocurrency exchange. It has made the official announcement that it is all prepared for the launching of its very latest version of the application, the PancakeSwap V3, sometime in the month of April 2023. This is going to take place on the BNB Smart Chain. 

PancakeSwap, a leading multichain decentralized exchange (DEX), will launch its version 3 (V3) in the first week of April.

Decentralized cryptocurrency exchange PancakeSwap announced Saturday that a new version of its application is rolling out to users next month on BNB Smart Chain.

PancakeSwap V3 will offer new features to the multi-chain DEX that says it has more than $438 billion in total trading volume and over $2.5 billion in total liquidity locked. These include improved liquidity provisioning, competitive trading fees and trading incentives along with a touch-up to its yield farming experience, it said an announcement 

According to a tweet by BNB chain, PancakeSwap [CAKE] became the most used dApp on the network. PancakeSwap stood first in the list of top 15 dApps on the BNB Chain, accounting for 62% of the total users.

Decentralized exchange trading activity has begun to pick up steam, with some of the DEX sector’s biggest players booking a notable bump in trading volumes this week. Ethereum-based Uniswap was leading the pack toward the end of the work week in New York, hovering around the 50% mark of total DEX volume, equating to a week-over-week double-digit jump to around $12 billion, data from DeFiLlama shows. Its closest rival, PancakeSwap was holding steady at around 8% via the same market cap metric — up about 20% since the week prior, clocking in around $2.1 billion. The DEX still leads on trader count on Binance’s BNB Chain. (Blockworks)

With a Daily Active Users (DAU) of 127,790, PancakeSwap [CAKE] was able to climb to fourth per the metric, Token Terminal revealed. According to blockchain data analytics platforms, it took a 12.1% increase in 24 hours for CAKE to hit the milestone.

Uniswap’s [UNI] proposal to float its V3 deployment on the BNB Chain passed the “temperature check” on 22 January, with 80% of total votes cast in favor of the move.

PancakeSwap [CAKE] recently made another major announcement that has the potential to increase the functionality and capabilities of the chain.