Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Two Prime Desert Ethereum, ask ‘Memecoin-like’ Red Flags and Risk Profile

2025-05-02

Economist Alex Krüger publishes market warning, says us in early stages of ‘serious delay’ – here is his prospects

2025-05-02

The FCA of the UK is getting closer to Crypto -Regulation – looking for public views on the following steps

2025-05-02
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
Facebook X (Twitter) Instagram
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain

    Ubisoft, Layerzero Launch Network for migrating Crypto -Game -Activa

    2025-05-02

    Hela Labs, Celdata to redefine the life sciences through decentralization

    2025-05-02

    Rei Network to speed up Web3 innovation in collaboration with Jumbo Blockchain

    2025-05-02

    Reactive Network supports Smartrust for the bulb of an Escrow system for web3 freelancers

    2025-05-01

    Mercado Bitcoin taps Wormhole to scale $ 200 million in tokenized assets

    2025-05-01
  • NFT

    Turnover drops more than 39% as market stalls

    2025-05-02

    FIFA launches NFT platform for ether lovers

    2025-05-01

    NFT -Trade graphs shake up in April as a courtyard rises

    2025-04-29

    NFT -turns down to $ 89.4 million, Cryptopunks Sales jumps 106%

    2025-04-26

    Cloudflare removes RTFKT Clonex NFT art due to conditions of service violations

    2025-04-25
  • Metaverse

    Shib: The Metaverse – Part of the expanding Shiba Inu ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Human Digital Life

    2024-12-13

    Exploring NetVRk: What’s Behind This AI-Powered Virtual Universe?

    2024-10-28

    Council of Europe emphasizes the impact of Metaverse on privacy and democracy

    2024-09-05
  • Analysis

    Economist Alex Krüger publishes market warning, says us in early stages of ‘serious delay’ – here is his prospects

    2025-05-02

    Solana (SOL) More than $ 150 – more upside down on the horizon?

    2025-05-02

    Morgan Stanley and Charles Schwab Ege Crypto Trading as the American regulations are convenience

    2025-05-02

    Bitcoin prepared new all time when BTC breaks above this resistance level, says Crypto Trader

    2025-05-02

    The next lunar shot that will lead to $ 3

    2025-05-01
  • Learn

    What Are Utility Tokens? Types, Roles, Examples

    2025-04-17

    Real-World-Assets in Crypto, Explained

    2025-04-16

    Most Profitable Crypto to Mine in 2025: Best Altcoins for Mining

    2025-04-11

    Receive a welcome bonus of $ 50 when you become a member of the CHANGELLY Mobile App – Only this March!

    2025-03-04

    Centralized Exchange (CEX) vs Decentralized Exchange (DEX): What’s The Difference?

    2025-03-03
  • Blog
  • Contact
    • Tech7685@gmail.com
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»DeFi»The launch of PancakeSwap on Zksync Era proves to be a match made in DeFi heaven
DeFi

The launch of PancakeSwap on Zksync Era proves to be a match made in DeFi heaven

2023-10-14No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

  • PancakeSwap sees robust increase in Zksync Era in just 2 months
  • To catch the falling knife or not? Our opinion on whether or not to buy CAKE.

It has been about two months since PancakeSwap V3 was rolled out on Zksync Era. Preliminary data already shows that the launch and subsequent operations have been quite successful so far.


Is your portfolio green? Check out the PancakeSwap profit calculator


PancakeSwap’s latest update reveals the extent of that success. According to the update, PancakeSwap V3 recently surpassed $850 million in trading volume. A sign of a healthy revival in the short period since its launch on Zksync Era. This indicates that the DEX has enjoyed a healthy rebound since then, despite less than favorable market conditions.

🥞 PancakeSwap v3 on @zksync Era has reached over 850 million in trading volume in the first two months since launch 🎉

Do not miss it:

🔁 Swap: 0.01% fee
🚰 Increased returns for LPs
🚜 Earn CAKE by staking LP tokens in farms
💳 Buy crypto directly with fiat

This is how it works👇 pic.twitter.com/2awW5wLoiE

— PancakeSwap🥞Everyone’s favorite DEX (@PancakeSwap) October 13, 2023

PancakeSwap’s rising volume is consistent with address activity. According to Glassnode, the number of active addresses on Uniswap V3 has increased over the past 3 months. This confirms that the DEX handled more activity during that period.

CAKE active addresses

Source: Glassnode

What are the key drivers behind this impressive adoption? Well, Zksync Era has experienced a robust revival as one of the first Ethereum Layer 2 solutions to offer ZK technology. As a result, demand for this layer 2 has increased. The PancakeSwap DEX was one of the first decentralized exchanges to support Zksync Era and was therefore able to benefit from the growing utility.

See also  CFTC settles charges against companies behind 0x (ZRX), two other DeFi protocols

In addition to the support, PancakeSwap offers incentives that have facilitated the recovery. Some of these incentives include low swap fees and healthy returns for liquidity providers to encourage participation.

Will the increase in trading volume affect CAKE’s demand?

Growing PancakeSwap volumes underscore the need for liquidity, meaning there is organic demand for cake from liquidity providers. However, this type of demand often pales in comparison to the trading/speculative demand in the spot and derivatives markets.

Speaking of demand, interest in CAKE continues to wane and is in danger of slipping into oversold territory again. It is also about to retest the same low range where the price returned earlier in September. At the time of writing, a piece of cake was exchanging hands for $1.08.

CAKE price promotion

Source: TradingView


Read more about CAKE’s 2024 price forecast


CAKE’s long-term downtrend has resulted in a new low for 2023. This price action signals declining trader confidence, which may have perpetuated falling cake prices. The proverbial falling knife cuts through CAKE, but is it close to the bottom?

It is unclear whether CAKE is at the bottom of its long-term bearish trend. However, the RSI has made higher lows in recent months, which could indicate that relative strength is gradually returning.



Source link

DeFi era heaven Launch match PancakeSwap proves zkSync
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Ubisoft, Layerzero Launch Network for migrating Crypto -Game -Activa

2025-05-02

Singapore Gulf Bank tackles global financial obstacles with crypto-oriented SGB network launch

2025-05-01

BNB Price Coils at Support – Bounce looks ready to launch

2025-04-30

Pepe Rising Trendline is holding: a reliable launch path for price rally

2025-04-28
Add A Comment

Comments are closed.

Top Posts

Short-term Bitcoin Holder Behavior Reminiscent of 2019 as BTC Remains Below $60,000

2024-09-04

Ice Open Network and Chaingpt announce a groundbreaking Web3-AI partnership

2025-03-27

Over $249,000,000 in Bitcoin, Ethereum and Solana shorts liquidated in hours as BTC rockets past $37,000

2023-11-10
Editors Picks

Why are these NFTs increasing in value?

2024-09-10

Bitcoin: Next $10 Billion Short Squeeze? Key data says…

2024-10-08

Hacker with $42,000,000,000 in wallet exploits Poly Network interoperability platform

2023-07-04

NFT sales drop, OpenSea drops to 4th place

2024-03-06
About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Two Prime Desert Ethereum, ask ‘Memecoin-like’ Red Flags and Risk Profile

Economist Alex Krüger publishes market warning, says us in early stages of ‘serious delay’ – here is his prospects

The FCA of the UK is getting closer to Crypto -Regulation – looking for public views on the following steps

Get Informed

Subscribe to Updates

Get the latest news and Update from Free.cc about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
© 2025 Free.cc - All rights reserved. Contact: info@free.cc

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$97,733.561.12%
  • ethereumEthereum(ETH)$1,847.730.21%
  • tetherTether USDt(USDT)$1.00-0.01%
  • rippleXRP(XRP)$2.240.11%
  • binancecoinBNB(BNB)$600.34-0.58%
  • solanaSolana(SOL)$151.32-0.80%
  • usd-coinUSDC(USDC)$1.00-0.01%
  • dogecoinDogecoin(DOGE)$0.1822150.82%
  • cardanoCardano(ADA)$0.711.43%
  • tronTRON(TRX)$0.246314-0.89%
  • suiSui(SUI)$3.48-6.38%
  • chainlinkChainlink(LINK)$14.83-0.39%
  • avalanche-2Avalanche(AVAX)$21.541.22%
  • stellarStellar(XLM)$0.2789960.27%
  • unus-sed-leoUNUS SED LEO(LEO)$8.88-0.91%
  • shiba-inuShiba Inu(SHIB)$0.0000140.20%
  • hedera-hashgraphHedera(HBAR)$0.188336-0.35%
  • the-open-networkToncoin(TON)$3.19-0.39%
  • bitcoin-cashBitcoin Cash(BCH)$381.422.75%
  • hyperliquidHyperliquid(HYPE)$20.992.99%
  • litecoinLitecoin(LTC)$89.252.33%
  • polkadotPolkadot(DOT)$4.231.65%
  • daiDai(DAI)$1.00-0.02%
  • moneroMonero(XMR)$286.003.96%
  • bitget-tokenBitget Token(BGB)$4.410.50%
  • ethena-usdeEthena USDe(USDE)$1.000.04%
  • piPi(PI)$0.60-2.27%
  • pepePepe(PEPE)$0.000009-0.76%
  • aptosAptos(APT)$5.49-0.61%
  • uniswapUniswap(UNI)$5.30-0.99%
  • bittensorBittensor(TAO)$375.060.71%
  • nearNEAR Protocol(NEAR)$2.580.64%
  • okbOKB(OKB)$51.58-0.17%
  • ondo-financeOndo(ONDO)$0.920.15%
  • gatechain-tokenGateToken(GT)$21.811.03%
  • internet-computerInternet Computer(ICP)$4.991.22%
  • aaveAave(AAVE)$175.34-0.93%
  • ethereum-classicEthereum Classic(ETC)$17.231.72%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.82-1.59%
  • kaspaKaspa(KAS)$0.0979783.32%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.239435-1.64%
  • mantleMantle(MNT)$0.740.00%
  • render-tokenRender(RENDER)$4.722.41%
  • crypto-com-chainCronos(CRO)$0.0910401.12%
  • vechainVeChain(VET)$0.0275181.30%
  • usd1World Liberty Financial USD(USD1)$1.00-0.01%
  • algorandAlgorand(ALGO)$0.221483-1.48%
  • filecoinFilecoin(FIL)$2.841.17%
  • cosmosCosmos(ATOM)$4.471.78%
  • ethenaEthena(ENA)$0.311786-8.14%
  • bitcoinBitcoin(BTC)$97,733.561.12%
  • ethereumEthereum(ETH)$1,847.730.21%
  • tetherTether USDt(USDT)$1.00-0.01%
  • rippleXRP(XRP)$2.240.11%
  • binancecoinBNB(BNB)$600.34-0.58%
  • solanaSolana(SOL)$151.32-0.80%
  • usd-coinUSDC(USDC)$1.00-0.01%
  • dogecoinDogecoin(DOGE)$0.1822150.82%
  • cardanoCardano(ADA)$0.711.43%
  • tronTRON(TRX)$0.246314-0.89%
  • suiSui(SUI)$3.48-6.38%
  • chainlinkChainlink(LINK)$14.83-0.39%
  • avalanche-2Avalanche(AVAX)$21.541.22%
  • stellarStellar(XLM)$0.2789960.27%
  • unus-sed-leoUNUS SED LEO(LEO)$8.88-0.91%
  • shiba-inuShiba Inu(SHIB)$0.0000140.20%
  • hedera-hashgraphHedera(HBAR)$0.188336-0.35%
  • the-open-networkToncoin(TON)$3.19-0.39%
  • bitcoin-cashBitcoin Cash(BCH)$381.422.75%
  • hyperliquidHyperliquid(HYPE)$20.992.99%
  • litecoinLitecoin(LTC)$89.252.33%
  • polkadotPolkadot(DOT)$4.231.65%
  • daiDai(DAI)$1.00-0.02%
  • moneroMonero(XMR)$286.003.96%
  • bitget-tokenBitget Token(BGB)$4.410.50%
  • ethena-usdeEthena USDe(USDE)$1.000.04%
  • piPi(PI)$0.60-2.27%
  • pepePepe(PEPE)$0.000009-0.76%
  • aptosAptos(APT)$5.49-0.61%
  • uniswapUniswap(UNI)$5.30-0.99%
  • bittensorBittensor(TAO)$375.060.71%
  • nearNEAR Protocol(NEAR)$2.580.64%
  • okbOKB(OKB)$51.58-0.17%
  • ondo-financeOndo(ONDO)$0.920.15%
  • gatechain-tokenGateToken(GT)$21.811.03%
  • internet-computerInternet Computer(ICP)$4.991.22%
  • aaveAave(AAVE)$175.34-0.93%
  • ethereum-classicEthereum Classic(ETC)$17.231.72%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.82-1.59%
  • kaspaKaspa(KAS)$0.0979783.32%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.239435-1.64%
  • mantleMantle(MNT)$0.740.00%
  • render-tokenRender(RENDER)$4.722.41%
  • crypto-com-chainCronos(CRO)$0.0910401.12%
  • vechainVeChain(VET)$0.0275181.30%
  • usd1World Liberty Financial USD(USD1)$1.00-0.01%
  • algorandAlgorand(ALGO)$0.221483-1.48%
  • filecoinFilecoin(FIL)$2.841.17%
  • cosmosCosmos(ATOM)$4.471.78%
  • ethenaEthena(ENA)$0.311786-8.14%