CAKE

The PancakeSwap price prediction remains bullish, but the CAKE/USD pair is now facing immediate resistance at $4.00, and failure to break above this level could lead to a downtrend. CAKE/USD began trading at $3.9790 on December 9, reaching a high of $4.001 and a low of $3.9610.

CAKE/USD is currently trading at $3.9950, up more than 2.33% in the last 24 hours. Furthermore, the price has risen by more than 1.7% in the last few days.

CAKE

Venus Protocol Partners with PancakeSwap

PancakeSwap, the world’s most well-known Decentralized Exchange (DEX), is home to several yield farms and liquidity pools. Venus Platform and PancakeSwap, two of the most popular dApps on the BNB Chain, have collaborated to provide seamless token swap functionality on the top DeFi crypto borrow/lend protocol.

The first stage of the two-part integration has been completed, and one-click repayment features are on the way. As part of Venus’s v4 update, the integration is the first of its kind in DeFi and improves customer ease and efficiency.

After partnering with PancakeSwap, Venus Protocol becomes the first protocol to offer crypto borrowing and lending, as well as the ability to exchange tokens from the same UI with a single click. It represents a significant improvement in the user experience and functionality of DeFi. By integrating PancakeSwap into the Venus Protocol user interface, users will no longer need to leave the Venus Protocol to trade tokens.

If a user notices an APY token and wishes to increase exposure, they can easily exchange one of their existing tokens and send it to Venus Protocol without leaving the comfort of Venus’s user interface. Following the announcement of the partnership, the price of CAKE/USD has risen.

PancakeSwap Burns $28 Million Worth of CAKE

On December 5, PancakeSwap published the results of the most recent round of burning CAKE, the decentralized exchange’s native cryptocurrency.

According to the data presented, 6.95 million tokens worth approximately $28 million were burned. The amount of CAKE burned is 4.4% of the total circulating token supply. Furthermore, the overall supply of the CAKE token is more than half of its maximum supply, indicating significant token burning.

Such tokenomics is remarkable, given that PancakeSwap’s token offer was previously infinite. The price of CAKE/USD increased in response to the announcement, continuing the upward trend that began when the centralized exchange FTX collapsed, reviving the DeFi sector.

PancakeSwap Price Prediction: Updates on CAKE Syrup Pool

On December 5, Pancakeswap posted a blog about CAKE Syrup Pool advancements. The PancakeSwap team began the MasterChef Migration in the summer of 2022, according to the blog. The network introduced fixed-term staking for the convenience of devoted customers who bet their CAKE up to a 21x boost. Three of the previous CAKE Syrup Pools, which were introduced in 2021, were also removed.

Users who choose to lock their CAKE will benefit from increased CAKE rewards (bCAKE), IFO credits (iCAKE), and locked governance voting. Furthermore, holders will receive a significantly higher return than flexible staking (vCAKE). The new CAKE pool is built on top of the previously created Auto CAKE vault.

Although rewards are unlikely to increase with fixed-term staking, labeling and documentation became inconsistent due to the reuse of wordings and documents. In other words, when the CAKE pool is subject to fixed-term staking, yield% should be labeled as APR rather than APY.

Once the user stakes their original amount of CAKE, extends it, or adds more CAKE, the yield and ROI remain constant and accurate. Users can benefit from a significant APR rate, and the incentives do not receive a yield boost. The news is good for the native coin, and CAKE/USD is rising.

PancakeSwap Price Prediction – Trading Levels

Support Resistance

3.907 4.020
3.834 4.060
3.794 4.133
Pivot Point: 3.947

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Following the presale, the project will be listed on the BitMart and LBank exchanges. Despite the fact that the presale is still in its early stages, the platform is nearing the end of its final stage.

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Two centralized exchanges, LBank and Changelly Pro, will list IMPT shortly after its DEX launch. The IMPT presale has raised $17 million and is almost complete. The IMPT token’s price has risen with each stage of the presale to $0.023.

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