Last week was eventful for the crypto world. Cryptocurrency prices showed diverse trends after the Federal Reserve decided to keep interest rates unchanged, and the U.S. Securities and Exchange Commission ended its appeal against Ripple Labs.
PancakeSwap: Records and Challenges
PancakeSwap, the largest decentralized exchange on the BNB Chain, saw its trading volumes increase unexpectedly. CAKE price rose to $2.82 last week, up 105% from its lowest point this month. The surge was driven by the launch of meme coins on the BNB Chain. However, there is concern that a scenario similar to Solana DEX might occur, where trading volumes initially rise and then suddenly fall.
EOS: Path to Restructuring
The EOS token rose by 55% to $0.6676 last week due to its rebranding to Vaulta, which focuses on blockchain banking solutions. While past rebrands of various projects have had different outcomes, examples like the recent success of Fantom's rebrand to Sonic already show certain success.
Pi Network: Forecast and Concerns
Pi Network token garnered attention, dropping from its all-time high of near $3 to a crucial support at $1. The decline was due to the absence of listings on major exchanges such as Binance and Kraken. Furthermore, the planned unlocking of 188 million new tokens this month and 1.6 billion over the next year is causing concern. However, a potential recovery is hoped for, backed by the forming falling wedge pattern.
Cryptocurrency prices remain volatile as the market gears up for President Trump's tariff changes and further developments in the digital space. The decline and rise of various crypto projects will be a significant indicator of their adaptation to new market conditions.
