PancakeSwap, the leading decentralized exchange (DEX) on the Binance Smart Chain (BSC), is growing at more than 2 million active users.
The success of the protocol is further demonstrated when you consider that in the last 7 days, it has attracted 916, 320 unique active users.
CAKE is eyeing up a return above $20.00, and potentially even higher.
PancakeSwap, the Binance Smart Chain-based automated market maker (AMM), currently has close to $8 billion in Total Value Locked assets (TVL) and a market cap just north of $3 billion.The latest rise in the PancakeSwap price comes as the Decentralized Exchange (DEX) completed its weekly token burn.
More than 5 million CAKE Tokens have been permanently removed from supply as part of the project’s deflationary mechanism.The resulting price reaction has lifted the token back above the 200-day moving average and cleared the path for the CAKE price to progress towards $20.00.
PanCakeSwap has blown its competition out of the water with its closest rival, UniSwap, racking up just a quarter of its active users at 10%.How To Launch Your PancakeSwap Like DeFi DEX On BSC?Interestingly PancakeSwap can be launched by any individuals who wish to make revenue in online.