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According to the latest data from DefiLlama, PancakeSwap’s protocol fees surged to $6.71 million within the last 24 hours, positioning it as the second highest earner in the decentralized finance sector. This milestone marks a significant development as PancakeSwap has overtaken Circle, which recorded $6.35 million in protocol fees during the same period. Only Tether remains ahead, maintaining its lead in protocol fee generation. This data underscores PancakeSwap’s growing dominance and robust activity in the DeFi ecosystem, reflecting increased user engagement and transaction volumes. Market participants and analysts should closely monitor these trends, as they highlight shifting dynamics in protocol revenue streams within the crypto industry.
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