- Pancakeswap leads the Dex market with a 24-hour trading volume of $ 3.02 billion and expands the multi-chain support and security functions.
- New innovations such as Springboard and Orbs’ Layer 3 improve the Pancakeswap ecosystem and make it more accessible and efficient for defi users.
The Pancakeswap platform has recorded a trading volume of more than $ 3.02 billion in the last 24 hours, which it has for most active decentralized stock exchange (dex). Pancakewap is currently clearly leading on the Defi market with an undeniable expansion about its competitors. But what drives this explosion?
PancakeSwaps Multi-chain growth opens up new opportunities
This increase in volume is not just the result of market dynamics. Pancakewap has expanded its audience with new functions that improve the user experience even further.
This includes MEV Guard, a security tool that supports more wallets on the BND Chain today, including Binance Wallet, Trust Wallet and Okx Wallet. Users of this function can feel better protected against bot attacks that can manipulate the prices of the blockchain network.
However, Pancakeswap is also increasingly proving to be a multi-chain platform. As we have already reported, the Dlimit and DTWAP functions were expanded to the arbitrum, line and base networks. This enables users to carry out more flexible trades over several blockchains without being dependent on an ecosystem.
In addition, Pancakeswap is also improved by the Layer 3 infrastructure of ORBS, which enables users to carry out algorithmic trading techniques and to maximize liquidity over many defi platforms. This function is definitely a very useful addition to traders who like to use automation.
Become easier to innovate SpringBoard
Pancakewap is not just a marketplace for buying and selling cryptocurrencies. You have introduced SpringBoard, a tool that enables everyone to design and publish their own tokens – without writing a single line of code – on December 4, 2024.
This is like a door opener for everyone who wants to get into the blockchain area without programming knowledge. This creativity makes it understandable that Pancakeswap has an increasing number of new projects.
Pancakewap is not only interesting because of its technical imagination. A large part also depends on the trust of the community. Depending on the needs of the often changing defi ecosystem, users consider this platform to be a firm, safe and constantly changing place.
Cake breaks through resistance: positive signal?
Technically speaking, the native token of Pancakewap, Cake, has also started to show remarkable movements. The popular crypto analyst crypto bull-360 Fixedthat Cake has just exceeded the downward trend line and the nearest resistance area. This is sometimes seen in the trade environment as a bullish sign that can open up opportunities for further profits.
Does this mean that cake will rise sharply? Of course, we have to check the current technical confirmation, since the crypto area is always good for surprises. However, signs such as this are worth considering for dealers.
At the editorial deadline, Cake is traded for around $ 2.15 and has increased by 15.81 % in the last 24 hours and 39.29 % in the last 7 days.
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