Pangolin V3

Trust Rank External venue ranking. It is not calculated by YearBull and is not a solvency guarantee.
#288
24h Volume (BTC)
50.356 BTC
Country
n/a
Established
n/a
Author
Alan Zelvin
Alan Zelvin
Founder & Research Lead
Reading time
2 min
Dates Published / Modified
/

Pangolin V3 exchange snapshot

Decentralized (DEX). Trust Rank 288. Reported 24h volume 50.36 BTC.

Coverage: 10 active pairs across 8 tradable assets. Top ten pairs share 100.0%. Key pairs include USDT/USDC, USDT/PNG, PNG/WAVAX, WAVAX/USDC. Leading pair USDT/USDC. Median spread on leading markets 0.71%. Volume mix: USDC is the largest tracked quote currency at about 94.4% of measured flow. Data scope: 11 tickers observed, with spread readings on 11 markets.

How to read these exchange metrics

Scope: Trust Rank is an external relative position from the locally stored exchange snapshot. It is not calculated by YearBull and is not a guarantee of solvency, custody quality, licensing, customer protection, or future withdrawal access. Coverage counts observed markets, while concentration shows how much measured volume is assigned to the leading pairs. Median spread summarizes the bid ask gap in the observed leading markets; actual execution also depends on order size, depth, location, and market conditions.

Methodology responsibility: YearBull’s analytical methodology and presentation rules are developed and maintained by Alan Zelvin, Founder & Lead Crypto Researcher. This note identifies responsibility for the methodology; it does not attribute authorship of this data snapshot.

Figures may change as exchange and ticker snapshots are refreshed. Read the YearBull methodology.

Pangolin V3 liquidity and coverage analysis

The current local dataset contains 10 observed pairs, 8 represented assets, 11 ticker records. The ten leading pairs account for about 100.0% of measured volume, a concentrated distribution. Median spread across the observed leading markets is 0.71%. The local volume series contains 30 points; its first to latest change is -27.0%, with a median observation of 20.63 BTC.

Coverage and reported volume show the scope of observed markets, not custody quality, solvency, regulatory availability, or guaranteed execution. Pair level depth and withdrawal conditions should be checked for the intended transaction.

Exchange Notes

Table of Contents
  1. Pangolin V3 exchange research overview
  2. Coverage and concentration
  3. Historical volume context
  4. How to evaluate Pangolin V3
  5. Key risks and limits
  6. Primary sources and review scope

Pangolin V3 exchange research overview

Pangolin V3 is tracked as a decentralized exchange under pangolin-v3. This profile analyzes observed market structure and is not an endorsement.

Coverage and concentration

The dated snapshot contains 10 active pairs, 8 tradable assets, 11 ticker observations. The leading observed pair is USDT/USDC with about 93.7% of measured volume. The ten leading pairs account for about 100.0%, which is concentrated. Median spread across leading observed markets is 0.71%.

Historical volume context

The local series contains 30 observations. First to latest reported volume changed -27.0%; the median was 20.63 BTC, compared with a measured range of 3.78 to 30.98 BTC. Reported activity does not by itself establish executable depth for a specific order.

How to evaluate Pangolin V3

Compare fees, pair level depth, deposits and withdrawals, custody or contract design, account protections, token verification, and local eligibility. At the 2026-09-12 review, the Trust Rank was #288. Trust Rank, coverage, concentration, and spread answer different questions and should be read together.

Key risks and limits

Smart contract faults, oracle or bridge dependencies, front end availability, token verification, pool depth, wallet security, governance, and routing can affect execution. Terms, interfaces, listed markets, and regulatory availability can change. Verify current conditions directly with the venue.

Primary sources and review scope

YearBull methodology | Official exchange website. Identity and cached market fields were reviewed on 2026-09-12. The live exchange snapshot may be newer than this editorial review.

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