The post CAKE Token Jumps 96%—3 Reasons Why PancakeSwap Is Soaring appeared on BitcoinEthereumNews.com.

The native token of PancakeSwap, Cake, has recorded a staggering surge of 96% in the last seven days to trade at $2.6. Analysts have linked this surprising move to Binance founder Changpeng Zhao’s recent sharing on X of BNB Chain’s roadmap.  The native token of PancakeSwap, Cake, has emerged on the trending list of one of the most widely referenced market data platforms, CoinMarketCap, after surging by 96% in the last 24 hours. According to data, this asset has become the 90th largest crypto with a market cap of $788 million. Meanwhile, trading volume has declined by 26.8% in the last 24 hours as $822 million changes hands at press time. Exploring some of the reasons for this rally, we found that the significant surge in active engagement on the Decentralized Exchange (DEX) platform PancakeSwap could have played a major role. In the latest report by Defillama, the trading volume of PancakeSwap ranked first among competitors. Additionally, it topped the list of seven-day trading volumes with a historic milestone of $99.9 billion in 30-day trade volume. This boosted its market share to reach 21.87%. Prior to this, the DEX platform had recently added support for its “Orbs-based dLIMIT and dTWAP protocols to the Arbitrum, Linea, and Base network,” as outlined in our recent blog post. Roadmap of the BNB Ecosystem as a Driving Factor for Cake’s Rally The other reasons for the sudden surge of Cake could also be linked to the recent performance of the BNB ecosystem and its technical roadmap. In the post shared on his X handle, Binance founder Changpeng Zhao (CZ) disclosed that the team would boost the transaction latency of the Chain this year by reducing the block time from three seconds to sub-second to be able to process 100 million transactions per day. Additionally,…

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Filed under: News - @ February 15, 2025 1:18 am