PancakeSwap has expanded its crosschain swap feature to the Solana network, allowing users to swap tokens across multiple blockchains in a single transaction. The update comes as decentralized exchange activity intensifies, with new entrants like Aster DEX drawing attention.
Backed by Binance’s investment arm YZi Labs and endorsed by Binance co-founder Changpeng “CZ” Zhao, Aster has quickly become part of the broader competition. Data from DeFiLlama shows trading volumes across decentralized exchanges climbing sharply, underscoring the growing demand for efficient crosschain services.
PancakeSwap Integrates Solana for Multi-Chain Swaps
In a blog post, PancakeSwap confirmed that its crosschain swap feature now supports Solana, one of the most active layer-1 blockchains. With this addition, the platform now enables token swaps across seven networks, including Ethereum, BNB Chain, Arbitrum, Base, ZKsync, Linea, and Solana. According to the exchange, users can complete cross-chain swaps directly within its interface without navigating multiple bridges or applications.
The decentralized exchange highlighted that the Solana functionality is powered by Relay, a multichain payment network that facilitates transfers across blockchains. PancakeSwap stated that this integration was introduced to simplify the user experience and enhance liquidity movement between leading networks. The exchange has positioned the feature as a response to growing demand for multi-chain connectivity amid rising trading volumes in the DeFi space.
Aster DEX Gains Momentum Amid Rising Volumes
The Solana expansion by PancakeSwap coincides with the launch of Aster DEX, which has drawn attention in part due to Binance’s involvement. Binance co-founder Changpeng “CZ” Zhao endorsed Aster, clarifying that the platform is not exclusive to BNB Chain. Zhao emphasized that Aster supports multiple blockchains, including Solana, and operates differently from other perpetual decentralized exchanges.
DeFiLlama data shows that decentralized exchange volumes are accelerating. On September 22, trading activity across DEXs reached $16 billion, with PancakeSwap leading daily volume at $3.419 billion.
Uniswap followed at $2.6 billion, while Meteora, Fluid, and Raydium posted $1.2 billion, $1 billion, and $767.97 million, respectively. Aster ranked eighth with $533 million, closely followed by Hyperliquid at $514 million.
Over seven days, Uniswap led with $23 billion in trading volume, while PancakeSwap secured second place with $20 billion. Hyperliquid and Aster also posted notable activity, recording $4.81 billion and $2.4 billion, respectively. Analysts note that the growing traction of new exchanges like Aster highlights the increasingly competitive landscape among decentralized trading platforms.
Amid the surge in competition, Aster introduced leverage trading of up to 300x for HYPE, Hyperliquid’s native token. This feature places it among the few platforms offering such high leverage, drawing interest from traders seeking exposure to volatile markets.
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About the Author: Brenda Mary
