Cryptocurrency exchange PancakeSwap has been getting a lot of attention because it recently held an AMA.
During the last week and month, the price of PancakeSwap’s token, CAKE, has gone up a lot. At the time of this writing, CAKE is up 15.18% and 28.81%. However, CoinMarketCap has put the project in the top 10 most popular projects. The price of CAKE has started the week with a break from its month-long rise in price.
At this point, CAKE is down 3.43 percent for the week, as shown in the picture below.
CAKE has a market value of $2,684,850,309, which makes it the 42nd largest cryptocurrency project in terms of market value.
CAKE had a trading volume of $199,544,687 in the last 24 hours. This is a lot less than the top 10 most popular projects. On the other hand, STEPN has a 24-hour trading volume of $1,829,583,133. This is because STEPN is number 1.
This could be because the PancakeSwap team recently held an AMA (Ask Me Anything). In one of the most important parts of the meeting, a member of the team said that they will keep adding utilities to their new fixed stake option.
Staking is one of the most popular ways to make money passively in the crypto world. The news that PancakeSwap will be launching a fixed-term staking pool and that they will be adding more functionality to the pool has been welcomed by the crypto community.
