Thursday, March 4, 2021
Home Crypto News Analysis Tripled In Two Weeks: Why Is PancakeSwap (CAKE) Price Rising?

Tripled In Two Weeks: Why Is PancakeSwap (CAKE) Price Rising?

- Advertisement -

The price of PancakeSwap (CAKE) set a record, rising 310 percent in two weeks. Why is the price of CAKE rising, increasing to $13.15 on February 18.

The Binance Smart Chain (BSN) based PancakeSwap managed to hit an all-time high, rising 96 per cent on a weekly basis. Here are the developments that have raised the price of the CAKE.


PancakeSwap (CAKE) developments

Second largest decentralized exchange: PancakeSwap was the largest DEX after Uniswap with rising trading volume. The exchange 24-hour volume exceeded $600 million.

PancakeSwap for low transaction fees: DeFi protocol Mirror Protocol announced that PancakeSwap can be traded for those who complain about high gas fees in Ethereum. As a decentralized exchange and based on Binance smart chain, Pancake offers very low fees as compared to high ETH gas fees on uniswap and other decentralized exchanges.

Aleph token arrives: The ALEPH token integrated with the Binance Smart Chain. With this integration, ALEPH established a liquidity pool of BSN and PancakeSwap.

Staking Rewards listed Pancakeswap: PancakeSwap was listed on the Staking Rewards.

PancakeSwap was the most used DeFi protocol on BSN: DappRadar announced that Pancakeswap was the most used DeFi protocol on BSN. Pancakeswap’s number of users rose 36% in one week.

COMP stake: Users can earn CAKE on COMP stake in the Syrup pool.

CAKE was added to Cream Finance: PancakeSwap and Venus Protocol provided integration with the Cream Finance protocol. Users are able to do leveraged trading with CAKE.

Cake, which saw a trading volume of $190 million in 24 hours, has a market capitalization of $969 million. Cake’s total supply is unlimited, while its circulation supply is over 112 million. CAKE is priced over $13.

Join Our Community: Twitter, Facebook, Telegram

Donate Crypto

We are a small team striving to provide best content on Cryptocurrency. 

Your Donations will keep us alive.

BITCOIN (BTC)

1F9Pzyh96BT3TLNEuGaZmSbMYUfR9PwjX3

ETHEREUM (ETH)

0x831433a5495ed8949813747e2bb43abfb9918141

USDT (ERC20)

0x831433a5495ed8949813747e2bb43abfb9918141

LITECOIN (LTC)

LU1T8upd8QNU4UuzxUYSF75WwsfnFYQYU7

RIPPLE (XRP)

103332432

rEb8TK3gBgk5auZkwc6sHnwrGVJH8DuaLh

CHAINLINK (LINK)

0x831433a5495ed8949813747e2bb43abfb9918141



Albert Brown
Albert Brownhttps://thecryptobasic.com/
Albert Brown has obtained his master's degree in Stock Trading And Investing. His specialty is analyzing the price actions of crypto and stock markets. Albert provides a major role in TheCryptoBasic as a crypto analyst. He is also known for his work on Twinkle Magazine and TipRanks.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

DeFi Aggregator SpaceSwap Switched To Binance Smart Chain

The DeFi aggregator SpaceSwap team launched a version of the platform on Binance Smart Chain (BSC). This is reported in the project blog. SpaceSwap CEO...

Your Crypto Adventure Begins on the Starting Line-The STC Token ICO

Finally, after 12 years, cryptocurrencies got the attention they deserve. Bit by bit, after it conquered vendors and inventors, Blockchain set the stage for...

Grayscale Is Buying More And More Ethereum, Adding 19,355 ETH To Their Ethereum Trust in 7 days

The largest crypto asset manager in the world GrayScale bought a whopping 3,347 Ethereum yesterday. Accumulation accelerated since Ethereum Trust reopened. ...

In February 2021, Dogecoin Surpassed Bitcoin In Popularity On Twitter

In February, 2021, Dogecoin turned out to be the most talked cryptocurrency on Twitter, bypassing Bitcoin and Ethereum, according to data from the ICO...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.

follow us in feedly