Pangolin V3 overview
Decentralized (DEX). Trust rank 177. Reported 24h volume 17.74 BTC.
Coverage: 17 active pairs across 15 tradable assets. Liquidity profile: Low. Concentration: Concentrated. Execution quality: Competitive. Top ten pairs share 99.9%. Key pairs include USDT/USDC, WETH/WAVAX, PNG/WAVAX, BTC.B/WAVAX. Leading pair USDT/USDC. Median spread on leading markets 0.76%.
Understanding activity and pricing
Volume mix: USDC is the largest tracked quote currency at about 95.6% of measured flow. Data scope: 18 tickers observed, with spread readings on 18 markets. Trust rank provides a quick placement within a broad group of venues, and 24h BTC volume helps you gauge current activity. Coverage captures breadth across pairs and assets, which affects how resilient liquidity can be under changing demand. Concentration shows whether turnover is clustered in a small set of pairs or spread across the book. Median spread captures the common bid ask distance on top books and helps set expectations for market orders and tight limits. A smaller pair set often means the leading markets drive most outcomes, so focus on the top pairs and spread conditions. A high top ten share suggests the venue is leader driven, so secondary pairs may react more during volatility. When comparing venues, weigh breadth, con.
Editorial note: This analysis was prepared by the YearBull research team under the direction of Alan Zelvin, Founder and Lead Crypto Researcher. The assessment follows YearBull’s internal research methodology and editorial standards. Methodology · Editorial Policy