PancakeSwap's CAKE token saw a 15% increase as the platform topped decentralized exchanges by trading volume.
CAKE Token Increase Amid Rising Trading Volume
According to DefiLlama, PancakeSwap reached $1.639 billion in 24-hour trading volume, surpassing Uniswap and Raydium. This increase led to a 15% rise in CAKE's value.
Role of Changpeng Zhao and MUBARAK Token
Binance founder Changpeng Zhao contributed to the interest in memecoins, including MUBARAK, which surged by over 270% in the last week, boosting activity on PancakeSwap.
PancakeSwap's Success Story and New Records
Earlier in February, PancakeSwap achieved a yearly trading volume of $28.23 billion, with its historical volume surpassing $1 trillion. The platform also reported increased fees, reaching $64 million this year, making it one of the most profitable in the DeFi industry.
PancakeSwap continues to solidify its position among decentralized platforms, attracting users with high trading volumes and increased revenue.
