Following the increase in Bitcoin and Ethereum prices, BNB, CAKE, DODO, and XVS altcoins were able to make nice profits for traders. One of the things that made these altcoins soar was the ever-growing Binance ecosystem.
Why is the price of DODO (DODO), PancakeSwap (CAKE), Binance Coin (BNB) and Venus (XVS) rising. Let’s see.
Binance announced that DODO was added to Binance Launchpool. Users will be able to earn DODO by staking BNB, BETH and BUSD.
Other than launchpool listing, Binance announced that it will list Australia’s trading platform Swyftx coin, DODO for trading under DODO/USDT, DODO/BUSD, and DODO/BTC pairs.
DODO transaction volume exceeded 101 million, reaching the highest level.
DODO V2 Beta coming on Binance on 22-Feb-2021 (Source)
DODO saw an increase of 76% on a daily basis, reaching an all-time high of $9.953. DODO has a market value of $501 million. With a transaction volume of $142 million, DODO is currently trading on 6.6755 USD.
Binance announced that it will move CAKE from the innovation zone to the main trading zone.
PancakeSwap outperformed UniSwap with rising transaction volume and ranked number one among decentralized exchanges.
CAKE, together with DODO, will be listed on the Swyftx exchange.
Reaching a market value of $1.9 billion, CAKE saw a transaction volume of $691 million in 24 hours. Cake rose 55% on a single day and made all time high, reaching $21. Cake current price is $14.84.
Binance Coin (BNB)
Binance Coin rose to third place, surpassing Tether with its rising market cap.
“Let’s see what happens,” Binance CEO CZ said on whether BNB will surpass ETH market value.
People tell me BNB market cap should flip ETH. Not a race, but just based on user numbers. Let's see what happens.
— CZ 🔶 Binance (@cz_binance) February 19, 2021
Total assets locked on Binance Smart Chain exceeded $10 billion.
BNB, which made ATH by increasing 63% during the day and managed to exceed $340, increased 103% on a weekly basis and 487% on a monthly basis. Reaching a market value of 37 billion dollars, BNB’s daily trading volume is 11 billion dollars. BNB current price is $281.
Along with CAKE, Binance moved XVS from the innovation zone to the trading zone.
CZ criticized exchanges for not listing coins such as CAKE and XVS.
— CZ 🔶 Binance (@cz_binance) February 18, 2021
Cardano (ADA) will be added to Venus. Venus stated that it will launch a decentralized exchange on their 2021 roadmap.
Making ATH by increasing to $102 during the day, XVS rose by 52% in 24 hours. With a weekly increase rate of 155% and a monthly increase of 1938%. The market cap of XVS reached $810 million. The daily trading volume of XVS is around $465 million, with current price on 76.80.