New Crypto Asset Surges 1,463% in Just One Month – Here’s Why This Food-Themed Project Is Gaining Serious Adoption

New Crypto Asset Surges 1,463% in Just One Month – Here’s Why This Food-Themed Project Is Gaining Serious Adoption


A relative newcomer in the decentralized exchange (DEX) space is witnessing massive trading volumes, with its native token skyrocketing as high as 1,463% in the past month.

PancakeSwap (CAKE), which launched in late 2020, and is now the third-largest DEX with more than $444 million in daily trading volume at time of writing, according to CoinGecko, putting it ahead of its popular competitor SushiSwap by roughly $25 million.

PancakeSwap, which is run on smart contract platform Binance Smart Chain, offers traders a cheaper alternative to Uniswap, which is currently dealing with enormous Ethereum gas fees.

Trending: WATCH: Biden Freezes Up, Short Circuits and Fails To Reboot!

Because PancakeSwap is not running on Ethereum, it does not offer access to native ERC-20 assets and instead features BEP-20 assets built on Binance Smart Chain.

Crypto analyst Nicholas Merten says he’s impressed by the project, but recommends investors wait to see if the DEX’s astronomic rise in value is a result of hype, and consequently temporary.

“I have to say the really

Continue reading

You Might Like

Do NOT follow this link or you will be banned from the site!
Thanks for sharing!
Send this to a friend