Arslan Butt
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 $3.9950, up more than 2.33% in the last 24 hours. Furthermore, the price has risen by more than 1.7% in the last few days.
Venus Protocol Partners with PancakeSwap
PancakeSwap, the world’s most well-known Decentralized Exchange (DEX), is home to several yield farms and liquidity pools. Venus Platform and PancakeSwap, two of the most popular dApps on the BNB Chain, have collaborated to provide seamless token swap functionality on the top DeFi crypto borrow/lend protocol.
Venus V4 is officially here!
Congrats to the @VenusProtocol team
Here's what's new with this update:
— Stader.BNB (@stader_bnb) November 30, 2022
The first stage of the two-part integration has been completed, and one-click repayment features are on the way. As part of Venus’s v4 update, the integration is the first of its kind in DeFi and improves customer ease and efficiency.
UPDATE: @VenusProtocol has published a Venus v4 upgrade proposal in the Venus blog, with improvements addressing risk management, decentralization, and user experience.$XVS #Venus #DeFi
— BSC News (@BSCNews) November 23, 2022
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.
+5,000,000 $CAKE staked on the @PancakeSwap $MGP Syrup pool!
Thank you for your support CAKE holders. #Stake #MGP #BNB #DEFI pic.twitter.com/QXefvUaHRb
— Magpie XYZ (@magpiexyz_io) November 6, 2022
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
There are a few alternative coins with massive upside potential, let’s have a look!
Dash 2 Trade (D2T)
Since the team’s understanding of what cryptocurrency traders and investors require in today’s market, D2T is one of the most important new cryptocurrency projects of 2022. The capabilities and features of Dash 2 Trade can help traders make better investment decisions by speeding up the asset selection process.
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.
The platform’s native token, D2T, will be used to pay for platform services and participate in community activities and tournaments. Over $9.2 million has already been raised through the sale of cryptocurrency.
IMPT – Presale to End In 2 Days
By putting carbon credits on the chain, IMPT’s team is making the world of carbon credits much more efficient than ever before. The carbon credit system was previously extremely opaque; it only applied to businesses, and trading with them was inefficient and out of date. Carbon credits can be traded as NFTs on the blockchain at any time.
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.
Related
- Best New Coins on PancakeSwap – Business 2 Community
- Top Yield Farming Platforms in August 2022
- Best Crypto Loan Sites in 2022
Dash 2 Trade - New Gate.io Listing
- Also Listed on Bitmart, Changelly, LBank, Uniswap
- Collaborative Trading Platform Token
- Featured in Bitcoinist, Cointelegraph
- Solid Proof Audited, CoinSniper KYC Verified
- Trading Community of 70,000+ Members
This article was written for Business 2 Community by Arslan Butt.
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