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PancakeSwap TVL Drops 12%, Did This Exchange Received A Lethal Blow?

PancakeSwap (CAKE), the leading multichain decentralized exchange (DEX) running on the Binance Smart Chain (BSC), has suffered a significant 12% drop in its total value locked (TVL) to $2.4 billion.

The crypto crackdown by regulators targeting Binance’s stablecoin BUSD triggered a decrease in the stablecoin supply. This has negatively impacted the growth of the BNB Smart Chain, affecting protocols and DEX’s TVL. 

What has set PancakeSwap apart from UniSwap and SushiSwap exchange since its inception is that it runs on the BSC instead of the Ethereum smart chain.  However, PancakeSwap has gone multichain, launching on both Ethereum and Aptos.

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