Decentralized exchange and finance platform Pancakeswap ( CAKE), started to attract investors as a result of developments in metrics.
Despite the decreases in CAKE price, the interest in the platform is increasing day by day. Social metricsand fast integrationsthe project comes to the fore. pancakeswap Although the platform is made interesting and fun, the effect of the crypto bear market continues. As investors move away from the crypto market, Pancakeswap is a total locked asset ( TVL) also affected rates.
Pancakeswap Is Growing, Will Cake Rise?
social media analytics firm LunarCrush According to , an increase was observed in the shares made about Pancakeswap on social media. This rate has been approximately 97 percent This corresponds to an increase of . In addition, CAKE is also used in interactions on social media. 6 percentexperienced a growth.
A positivity was observed in the average weighted progress of the project. If CAKE manages to maintain all these metrics, it could experience a strong rise.
Aptos in the cryptocurrency market ( APT) to the wind, pancakeswap platform is included. To seize this opportunity, the team offered its community to launch the Aptos network. According to the proposal, the CAKE platform aptos will also offer its services. In such a case, the shift of the new trend and increasing interest to the platform is among the most important signals of the rise.
Although positive signals were mentioned, no noticeable momentum was gained on the TVL side. The ratio of TVL moving in a fixed plane, 2.82 billionIt’s around a dollar.
In addition, the platform continues to lose revenue in the light of all these developments. On the DEX side, there was a decrease in revenue from taxes and transaction fees. The platform raised $362k on the 24-hour chart. Only 43 thousand dollars of this went into the pocket of the company.
The biggest reason for the falling revenues is the depreciation on the DEX side in general. Declining demand and transaction volume was also an impressive reason for CAKE.
However, the burning, distribution and reward systems on the platform still continue to attract attention. After a positive development and event, CAKE can be priced with an increase in trading volume. The platform, which is preparing for the bull market, was among the most popular products in the previous bull market.
