PancakeSwap (CAKE) gains 444% as its daily DEX volume surpasses $90M
PancakeSwap’s DEX volume has grown by 350% in six weeks, causing its CAKE token rally 444% and the platform appears on track for even larger gains. Launched in September 2020, PancakeSwap is a decentralized exchange (DEX) running on Binance Smart Chain. Instead of allowing its users to trade ERC-20 and ERC-721 tokens, the DEX focuses exclusively on Binance Chain BEP20.By using an automated market maker (AMM), the DEX allows tokens to be exchanged with no need for order books. This is quite similar to Uniswap's liquidy pools which are automated by smart contracts.In addition to its....
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PancakeSwap (CAKE), just like any other cryptocurrency, has had its share of ups and downs. PancakeSwap registers over 53% increase in 24-hour trading volume PancakeSwap among trending BNB projects today CAKE’s next resistance level could be at $5 Just two months after it was launched on September 2020, the token hit its all-time low to date. Back then, it was trading at just merely $0.19. Today, a quick glance of data provided by CoinGecko shows the 68th ranked crypto by market capitalization trading at $4.80. It is way below its $43.96-all-time high that was attained on April 30, 2021.....
AVAX was once again higher on Thursday, rising for its fourth consecutive session, as it further cements itself in the crypto top ten. Although RUNE was also trading by as much as 15% higher, it was CAKE that led Thursday’s gainers. Pancakeswap (CAKE) Pancakeswap (CAKE) rose to its highest level in almost four weeks on Thursday, as it moved away from its recent lows. Following a bottom of $5.37 on Wednesday, which was close to a one-year low, CAKE/USD climbed by as much as 21% today. CAKE rallied to an intraday high of $7.19 in Thursday’s session, which is its highest level....
Centralized and decentralized exchanges are stepping up their game, with the upcoming launch of Uniswap v3, competition in the sector is bound to be fierce. PancakeSwap’s second iteration is also around the corner. CAKE holders will be able to profit. In a recent vote, PancakeSwap’s community decided to approve a feature called the “Big Burn”. […]
PancakeSwap (CAKE) most recent recovery sped up its bullish momentum as shown in the daily 20 and 50 EMA. PancakeSwap looking bullish CAKE price plunges 3.25% DMI shows neutral With the current economy of cryptocurrencies, traders need to know when it’s time to dip their toes and carve their potential to become millionaires. The ensuing growth of PancakeSwap has brought the alternative coin dangerously close to its short-term EMAs. But in the upcoming sessions, the $4.4-$4.2 area might continue to present obstacles to recovery. CAKE Shows Rising Wedge Recovery The rising wedge recovery....
The Pancakeswap token (CAKE) has been one of those cryptocurrencies that have been steadily growing in the background. The popularity of the decentralized exchange (DEX) contributed tremendously to its rise until it took a hit in the bear market like other digital assets. However, a new development has opened up new promises as millions of CAKE tokens have been removed from circulation. 7 Million Burned CAKE A scheduled burn had seen millions of CAKE tokens taken out of circulation. Pancakeswap announced the burn on Twitter with figures showing that a total of 7,123,715 CAKE had actually....