PancakeSwap (CAKE) gains 444% as its daily DEX volume surpasses $ 90 million
Launched in September 2020, PancakeSwap is a decentralized exchange (DEX) that runs on the Binance Smart Chain. Instead of allowing its users to trade ERC-20 and ERC-721 tokens, the DEX focuses exclusively on the Binance Chain BEP20. By using an automated market maker (AMM), the DEX allows token trading without the need for order books. This is quite similar to Uniswap’s liquid pools that are automated by smart contracts. PanCake (CAKE) token price on Binance. Source: TradingView 24-hour DEX volume ranking. Source: coingecko.com Daily volume of PancakeSwap. Source: coingecko.com Continue reading on Coin Telegraph
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