PancakeSwap CAKE Price Surges 15% Following BNB All-Time Highs
PancakeSwap's price surged over 15% today, reaching $3.21 and a market capitalization exceeding $1.1 billion, driven by the all-time high of BNB above $850.
- Daily trading volume for CAKE increased by 200% to over $460 million.
- CAKE's monthly gains have surpassed 45%.
- This marks the first time in five months that CAKE has traded above $3.
- PancakeSwap remains the top DEX on BNB Chain in terms of total value locked and trading volume.
- Across multiple blockchains, PancakeSwap recorded a trading volume of $185.33 billion last month, outperforming competitors like Uniswap and Raydium.
- BNB Chain has contributed to a cumulative user count of 54.59 million and total trading volume of over $1.90 trillion on PancakeSwap.
Analyst Javon Marks predicts that CAKE could reach a price target of $40.794, suggesting a potential upside of more than 1,110% from current levels.