𝐃𝐄𝐗 𝐁𝐚𝐭𝐭𝐥𝐞: 𝐏𝐚𝐧𝐜𝐚𝐤𝐞𝐒𝐰𝐚𝐩 𝐯𝐬 𝐒𝐮𝐬𝐡𝐢𝐒𝐰𝐚𝐩 (𝐋𝐚𝐬𝐭 𝟏𝟖𝟎 𝐃𝐚𝐲𝐬)

In DeFi, hype fades fast; but the data? 

That’s where the real truth lives. Over the past 180 days, @PancakeSwap and @SushiSwap have been out here trying to win traders, volume, and attention. One lives on @BNBCHAIN, the other moves across chains. But who’s really winning? 

Let’s dive in👇🧵

𝟏. 𝐓𝐫𝐚𝐝𝐞𝐫 𝐀𝐜𝐭𝐢𝐯𝐢𝐭𝐲: 𝐓𝐨𝐭𝐚𝐥, 𝐃𝐚𝐢𝐥𝐲 𝐀𝐯𝐞𝐫𝐚𝐠𝐞, 𝐚𝐧𝐝 𝐌𝐞𝐝𝐢𝐚𝐧

This is where PancakeSwap completely takes over

> PancakeSwap saw over 767 million swaps in the last 180 days.

> SushiSwap? Just 14 million.

> PancakeSwap averages 1,196 traders per day, while SushiSwap pulls in around 258.

> Median swaps per day? PancakeSwap does in a day what SushiSwap struggles to do in a week. 

What’s clear is that Pancake has a much bigger and more active user base. It attracts everyday traders, small wallets, meme hunters; people who come to swap and keep it moving. 

SushiSwap feels quieter, likely serving more DeFi-native users who trade less often.

co-founder of nothing • crypto newb • nice to know u

𝟐. 𝐔𝐬𝐞𝐫 𝐅𝐥𝐨𝐰: 𝐍𝐞𝐰, 𝐑𝐞𝐭𝐮𝐫𝐧𝐢𝐧𝐠, 𝐀𝐜𝐭𝐢𝐯𝐞 𝐚𝐧𝐝 𝐂𝐡𝐮𝐫𝐧𝐞𝐝 𝐓𝐫𝐚𝐝𝐞𝐫𝐬

This part shows how sticky each DEX really is

> PancakeSwap is bringing in new users and keeping a good chunk of them around.

> SushiSwap gets some new users too, but many of them don’t stick. A lot come for a short time and bounce. 

Pancake is clearly doing something right when it comes to keeping users coming back. Could be the farming, lotteries, or just how easy and fast it is to trade. SushiSwap might need to rethink how it turns visitors into regulars.

𝟑. 𝐕𝐨𝐥𝐮𝐦𝐞 𝐎𝐯𝐞𝐫 𝐓𝐢𝐦𝐞: 𝐂𝐨𝐧𝐬𝐢𝐬𝐭𝐞𝐧𝐜𝐲 𝐯𝐬 𝐒𝐩𝐢𝐤𝐞𝐬

Now we check how volume moves daily

> PancakeSwap stays active almost every single day. Even on its slow days, the volume doesn’t drop off too hard.

> SushiSwap shows random spikes but doesn’t stay hot for long. Most likely, those are whales or aggregator trades passing through. 

Bottom line: PancakeSwap has real, daily users. SushiSwap looks like it’s catching temporary surges, not steady flow.