Coin Edition -
- PancakeSwap recorded a 91% surge after announcing its new portfolio manager feature.
- CAKE’s market capitalization stands at $548 million at the time of writing.
- PancakeSwap claims to be a better crypto exchange than Uniswap in a recent tweet.
On October 30, decentralized crypto exchange PancakeSwap introduced a new integration Position Manager or a portfolio manager functionality on the platform’s dashboard, triggering a 91% surge in trading volume in the following week. According to data from CoinMarketCap, within the first 24 hours of the announcement, trading volume rose by 42% rise in trading volume, reaching a total of $373 million.
This rapid increase boosted the market capitalization of PancakeSwap’s governance token CAKE to $547 million 24 hours after the announcement. At the time of writing, ’s market capitalization stands at $548 million with a 25% increase in 24-hour volume.
PancakeSwap’s new feature integrates the automated yield strategies of DeFi protocol Bril Finance, enabling users to easily deposit tokens, including USDT, BTCB, BNB, and ETH into single-asset vaults through the platform’s interface. These tokens are then incorporated into a liquidity provision algorithm with automatic rebalancing, potentially offering users better risk-adjusted returns compared to other methods. The statement also noted,
With over $1.2 billion worth of assets in total value locked, PancakeSwap already provides portfolio managers with a robust suite of DeFi options, including swaps, liquidity pools, staking, and farming.
PancakeSwap claims to be the most efficient crypto exchange when it comes to saving money. A recent tweet discussing a direct comparison between PancakeSwap and Uniswap highlighted that the former charges no interface fees, while Uniswap charges 0.15%. Additionally, PancakeSwap starts at just 0.01% for swap fees, whereas Uniswap starts at 0.05%. While being available on multiple chains, including Ethereum, BNB Chain, Arbitrum, zkSync Era, Base, Linea, Polygon zkEVM, opBNB, and Aptos, PancakeSwap claims to better swap prices as well.