- Aside from BNB, PancakeSwap’s efficiency on ETH, zkEVM, and ARB was additionally promising.
- CAKE was up by over 25% within the final 24 hours, however market indicators regarded bearish.
PancakeSwap [CAKE] has achieved a promising milestone on a number one chain that clearly revealed how its adoption has been rising just lately. The DEX’s efficiency on the opposite chains additionally regarded fairly optimistic. Whereas this occurred, CAKE’s worth gained bullish momentum because it surged within the final 24 hours.
Learn PancakeSwap’s [CAKE] Worth Prediction 2023-24
PancakeSwap is performing properly!
PancakeSwap on 1 November posted a tweet on X (previously generally known as Twitter), highlighting a promising achievement. As per the tweet, its quantity on BNB Chain [BNB] reached the $20 billion mark.
🔝🎉 Thrilled to announce we have crossed the $20B buying and selling milestone on @BNBCHAIN! Immense gratitude in your unwavering assist!
🔥 Dive in and commerce now: https://t.co/Q7ytdqnNWq
👓 Navigate with our academy class:
: https://t.co/5i76rBDYue pic.twitter.com/2U80syTECg— PancakeSwap🥞Everybody’s Favourite DEX (@PancakeSwap) November 1, 2023
As an illustration, on Ethereum [ETH], the DEX’s TVL touched almost 62 million whereas its quantity exceeded 7.9 million. Aside from that, PancakeSwap has remained fairly lively on L2s as properly, equivalent to Arbitrum and Polygon zkEVM.
To be exact, as per the official web site, PancakeSwap’s quantity touched 169 thousand on zkEVM, whereas the identical determine for Arbitrum remained at 901 thousand.
CAKE is showcasing an impressive efficiency
Amidst this, CAKE’s worth motion gained bullish momentum because it registered double-digit positive aspects.
As per CoinMarketCap, in simply the final 24 hours, CAKE’s worth surged by greater than 25%. On the time of writing, CAKE was buying and selling at $1.54 with a market capitalization of over $348 million, making it the 107th largest crypto.
Whereas the token’s worth rallied, its buying and selling quantity went up by a whopping 500% within the final 24 hours, which was a considerable improve. The uptrend in quantity additionally gave hope for a sustained uptrend within the days to observe.
Real looking or not, right here’s CAKE’s market cap in BTC phrases
Although the newest information urged that CAKE was in a cushty zone, issues won’t take lengthy to vary as many of the market indicators turned bearish on the token. The token’s worth touched the higher restrict of the Bollinger Bands.
Its Relative Power Index (RSI) additionally entered the overbought zone, which may improve promoting strain on CAKE. Nonetheless, its MACD remained within the patrons’ favor because it clearly displayed an enormous bullish benefit out there.
Supply: TradingView
