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PancakeSwap price performed strongly in September as demand for the top decentralized finance (DeFi) tokens increased. CAKE has climbed to a high of $5.088. This is his highest since May 12th. Up more than 100% from this year’s low, the market cap has taken him over $676 million.
PancakeSwap is decentralized finance It is the largest DEX in the industry and the BNB smart chain. It is a platform that allows people to buy and sell cryptocurrencies in a decentralized manner. According to CoinMarketCap, it processes more than $115 million every day.
Unlike Uniswap and dYdX, PancakeSwap’s network allows people to exchange tokens to provide liquidity and earn revenue. The network has also expanded its ecosystem to include betting, predictions and even his NFT trading.
In total, PancakeSwap’s Total Locked Value (TVL) exceeds $2.92 billion. In the last 24 hours, the network has raised over $430,000. commission Leading to $51,000 in revenue.
Pricing for CAKE has been strong over the past few months, largely due to stability in the DeFi industry. In fact, his other DeFi tokens have worked well over the past few weeks. This includes tokens such as Lido, Aave, Uniswap and Maker.
After the collapse of centralized projects such as Celsius, Bold and Voyager Token, many analysts believe users will continue to migrate to decentralized platforms. For one, it’s more secure than a centralized one due to its open source nature.
The daily chart shows that the CAKE price has been in a strong bullish trend over the past few days. It has risen more than 100% since its low in June. The coin has broken above the 25-day and 50-day moving averages. It also edged above the key resistance level of $4.6 while the Relative Strength Index (RSI) continues to rise.
Therefore, the coin may continue to move higher as the bulls target the next key resistance level of $7.5. This is about 60% above current levels. This is an important price as he was the lowest on April 12th.
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Binance is one of the largest cryptocurrency exchanges in the world. Suitable for more experienced investors, with over 600 cryptocurrencies to choose from. Binance is also known for its low transaction fees and multiple trading options that users can benefit from. Peer-to-peer trading, margin trading, spot trading.
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swap zone
Swapzone is a crypto exchange aggregator that acts as a gateway between the cryptocurrency community and exchange services. Swapzone aims to provide a convenient interface, secure user flow and clear data to help users find the best exchange rates across the cryptocurrency market.
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