PancakeSwap’s CAKE Rallies 35% as BNB Flips Solana in Market Cap
BNB Chain's BNB token increased by 9.3%, while PancakeSwap's CAKE surged by 35%, despite Bitcoin trading in a narrow range around $96,200.
- CAKE has doubled in value over the past week, with trading volume hitting $1.1 billion in 24 hours.
- BNB surpassed Solana's SOL in market cap following comments from Binance founder Changpeng Zhao about "interacting with memecoins" on BNB Chain.
- The rise in BNB and CAKE is linked, as CAKE is the native token of PancakeSwap, the leading protocol on BNB Chain.
- BTC has remained between $95,000 and $98,000 since February 8, prompting increased activity in altcoins.
- Other altcoins like LIDO, INJ, JTO, and HYPE gained between 7% and 9% in the last 24 hours.