CAKE price soars 15% as PancakeSwap overtakes Uniswap by daily trading volume

The Pancakeswap native token cake jumped 15% while the trading platform has exceeded other decentralized scholarships in daily negotiation volume, reaching $ 1.64 billion.

Pancakeswap saw his native token (CAKE) increased by 15% while the platform has become the most active decentralized stock exchange by daily commercial volume.

Defillama analysis platform data shows that Pancakeswap recorded $ 1.639 billion in negotiation volume 24 hours a day on Monday, March 17, exceeding Uniswap (UNITED) and Raydium (RADIUS), which saw $ 1.021 billion and $ 334.98 million respectively.

The increase in commercial volume apparently occurs after the founder of Binance, Changpeng Zhao, has rekindled the interest for the same, indirectly promotion Samecoin Mubarak based on the BNB channel on its social networks profiles.

A few days later, chain analysts reported that an cryptographic address associated with Zhao had spent 1 binance (Bnb) To buy Mubarak, although it is not clear how much promotion sustained by Zhao assigned the activity around the token. At the time of the press, Mubarak has climbed more than 270% in the last seven days.

Pancakeswap V3 data shows That after the mention of Zhao de Mubarak, the token climbed to the third most exchanged active in the platform, behind only Tether (USDT) and bnb wrapped.

Earlier in February, Crypto.News reported This total volume of Pancakeswap jumped from 60% to $ 28.23 billion, marking its best performance since November 2021. The scholarship has also taken an important step, its historic negotiation volume exceeding 1 dollars.

The volume of Pancakeswap has also resulted in higher costs for exchange as total costs this year pink $ 64 million, bringing the total of $ 274 million to $ 274 million, becoming one of the most profitable players in Decentralized finance industry.