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NewsBTC 2022-09-27 10:30:26

PancakeSwap Watch: CAKE Trading Volume Spikes Over 50% In 24 Hours

PancakeSwap (CAKE), just like any other cryptocurrency, has had its share of ups and downs. PancakeSwap registers over 53% increase in 24-hour trading volume PancakeSwap among trending BNB projects today CAKE’s next resistance level could be at $5 Just two months after it was launched on September 2020, the token hit its all-time low to date. Back then, it was trading at just merely $0.19. Today, a quick glance of data provided by CoinGecko shows the 68th ranked crypto by market capitalization trading at $4.80. It is way below its $43.96-all-time high that was attained on April 30, 2021. CAKE might have lost 89% of that impressive trading value, but that does not necessarily mean the token is not commanding strong interest among traders. If anything, current data shows Christmas came early for the digital asset. PancakeSwap Outperforms Many Cryptocurrencies The crypto market is continuing to deal with bearish conditions, but CAKE was able to pull off an impressive feat – close the day and the week in green and outperform many of its competition. Over the last seven days, the governance token of PancakeSwap was able to increase its value by 9.4% and is one of the few digital assets to be “on the green” in today’s market. Related Reading: ETH Struggles To Break Past $1,300 Resistance – Back To $1K? Source: CoinGecko Its price recovery is not the only thing that is impressive about CAKE right now. Its 24-hour trading volume is al...

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