The number of TVL in DeFi continues to increase despite the protracted bear market and the course for further development and the influx of new investments I see only through the DEX.
For me, PancakeSwap is the first DEX exchange I was introduced to and in a few years it has grown and changed a lot. Even in 2018 – working with Uniswap or other DEXs was out of reach for many due to high fees, and over time this gap only started to get worse.
With the advent of PancakeSwap, a huge wave of liquidity began to spread through other DEXs, giving the opportunity to earn absolutely everyone.
So let’s see what PancakeSwap is at the moment:
According to Dappradar TVL PancakeSwap on November 20 is 58M$, DEX has more than 350k transactions per day with 140k unique addresses. Trading volume exceeds 180M$. This is not accurate information, as half of the contracts are not even involved in the calculation. According to other sources, PancakeSwap stores $ 2.74B, and the trading volume exceeds 250M$
PancakeSwap has its own native Cake Token, Which at the moment is trading at a price of $3.8, and ATH in the best of times exceeded $20. I am still bullish towards Cake, but the situation on the market is not favorable for its growth.
PancakeSwap In addition to the usual mechanism of exchange and addition of liquidity, several staking pools, several lotteries (staking pot, lucky pot, prediction lotery) were launched, NFT marketplace, battle of traders, trading with leverage and many new chips.
I can’t believe that all this happened before my eyes. Definitely by the beginning of the new bullish trend, we will see the growth of Cake! It is used as fuel throughout the PancakeSwap ecosystem.
The most interesting thing that can be found on PancakeSwap is IFO (Initial Farm Offering) – this is a loungepad for new tokens in which cake club members who have their PancakeSwap NFT avatar and have locked their Cake in the pool to participate in the IFO.
The launchpad model is not new in our time, but it helps young projects immediately enter the market and gain primary liquidity at the start of their journey.
To talk about everything you will have to spend a lot of time, so just go here and start trading on the largest DEX in the BNB network:
👆 By the way, our VICS Token is traded here!
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