Turkey Bans Binance Chain DEX PancakeSwap, CAKE Price Takes a Hit

The Turkish government has made a significant move, banning the use of PancakeSwap, a popular decentralized exchange (DEX) on the Binance Chain. This decision has sent shockwaves through the crypto community, with the price of CAKE, the native token of PancakeSwap, dipping 4% in response.

The ban is part of a broader crackdown on cryptocurrency trading in Turkey, with the government seeking to reduce the use of digital assets in the country. This move is likely to have significant implications for the global crypto market, particularly for Binance Chain and the DEX ecosystem.

References:

1."Turkey Bans PancakeSwap, CAKE Price Dips 4%" by CoinTelegraph"                                                                            2."Turkey Cracks Down on Crypto Trading, Bans PancakeSwap" by The Block
$CAKE #PancakeSwap #BinanceChain #DEX