- PancakeSwap recorded a 91% surge after announcing its new portfolio manager feature.
- CAKE’s market capitalization stands at $548 million at the time of writing.
- PancakeSwap claims to be a better crypto exchange than Uniswap in a recent tweet.
On October 30, decentralized crypto exchange PancakeSwap introduced a new integration Position Manager or a portfolio manager functionality on the platform’s dashboard, triggering a 91% surge in trading volume in the following week. According to data from CoinMarketCap, within the first 24 hours of the announcement, trading volume rose by 42% rise in trading volume, reaching a total of $373 million.
This rapid increase boosted the market capitalization of PancakeSwap’s governance token CAKE to $547 million 24 hours after the announcement. At the time of writing, ’s market capitalization stands at $548 million with a 25% increase in 24-hour volume.
PancakeSwap’s new feature integrates the automated yield strategies of DeFi protocol Bril Finance, enabling users to easily deposit tokens, including USDT, BTCB, BNB, and ETH into single-asset vaults through the platform’s interface. These tokens are then incorpor…
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