After a bullish first acceleration last month, the Pancakeswap cake puts the cover by winning 73 % in a week. Beyond this performance, the protocol also takes the lead in the DEX in recent 24 hours in terms of volumes.
Pancakeswap (cake) ignites again
Last month, The Pancakeswap cake seemed to come back from the deadseeing its price increase by 55 % in just 25 hours. Several factors could then explain this revival of vigor, such as the renewed involvement of Changpeng Zhao (CZ) in the BNB Chain ecosystem, as well as a desire to develop the same on this blockchain.
After temporarily exceeded 3.4 dollars on February 13, the cake finally left down, to reach a low point at $ 1.38 dated March 11. But since then, the asset has again benefited from a bullish momentum having resumed 92 %, including almost 73 % over the last 7 days:
Daily data cake course
When writing these lines, the Cake's price observes an increase of 8.7 % over 24 hours, for a unit price of 2.64 dollars and a capitalization of almost $ 932 million.
Despite the current euphoria, a certain caution is still in order, with regard to the volatility of the token.
👨🏫 To go further – Know everything about the decentralized Pancakeswape (Cake) Exchange (Cake)
Beyond the asset alone, It is also the decentralized exchange (DEX) Pancakeswap itself which benefits from this optimism. And for good reason, the protocol leads the volumes of the DEX over the last 24 hours, with more than $ 2.5 billion in volumes, against $ 1.31 billion in uniswap (UNI), according to Defillama data.
As for its total locked value (TVL), its evolution since the beginning of the year does not reflect this short -term trend. Indeed, with an equivalent of 2.62 million BNB, it has hardly changed since January 1, which now represents $ 1.65 billion.
Trader The crypto cake On the decentralized hyperliquid platform
Sources: tradingView, Defillama
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Since 2021, I have devoted my free time to seriously train myself on cryptocurrencies in order to acquire maximum knowledge and credibility. I often have the opportunity to carry out interviews with influential personalities from the blockchain industry. I also conduct in -depth analyzes on web3 themes to offer exclusive content to cryptoast readers.
Vincent Mayor
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