CAKE
PancakeSwap (CAKE) has risen to $2.52, increasing by 40.5% in a day, surpassing a market value of $760 million.
This gain was particularly accompanied by a 367% increase in trading volume, exceeding $819 million.
Today's rise occurred as PancakeSwap achieved a leading position in the decentralized exchange market. With a trading volume of $1.64 billion in 24 hours, PancakeSwap outperformed Uniswap and Raydium.
Following Binance's significant $2 billion investment in the Abu Dhabi-based technology investment firm MGX, the increase in trading activities has boosted investor confidence in Binance-related projects like PancakeSwap. @PancakeSwap
Additionally, the growing interest around meme coins has further accelerated PancakeSwap's momentum by facilitating more transactions in decentralized exchanges (DEXs).