The native token of Pancakeswap decentralized alternate (DEX), CAKE has pumped 15% because the DEX leads in 24 hour buying and selling quantity.
The hike in CAKE worth additionally aligns with Binance’s recent $2 billion investment deal with Abu Dhabi’s MGX as Pancakeswap is the biggest DEX on the Binance alternate owned BNB Chain.
As per DeFillama data, Pancakeswap presently holds the second largest place amongst DEXs in producing 24 hour buying and selling quantity. Earlier right this moment, it was on the first place however Uniswap has now secured the main place, adopted by Solana’s Raydium, Meteora and Orca.
On the time of writing, CAKE price is buying and selling at $1.85 whereas it has surged as excessive as $1.93 earlier than an hour. The 24 hour buying and selling quantity has additionally elevated by 170% for CAKE because it surged previous the weekly excessive.
Though CAKE worth is presently down over 30% up to now month because the crypto market witnessed a large downtrend on Monday.
Pancakaswap has been a number one BNB Chain DEX since its launch in September 2020. It’s presently essentially the most dependable and reliable DEX in Binance’s extensive ecosystem.
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