PancakeSwap’s latest move may make merchants crave this cake

pie swap No. 3 guaranteed in terms of trading volume According to Coingecko On October 23. However, DEX may still have a long way to go to reach the peak. Although TVL is lower, cakeWith the help of its increased social participation and rapid integration, it may show some growth in the next quarter.

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Here AMBCryptos PancakeSwap Price Prediction [CAKE] For 2022-2023

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According to a social media analytics company LunarCrushAnd the pie swap Social signals have shown exponential growth in the last month. This number increased by 97.26% in the last month. Additionally, her social engagement increased by 6.19% over the same period.

CAKE-weighted sentiment has also observed huge spikes in positivity over the past 30 days. If PancakeSwap can maintain positive vibes for longer periods, it may have a positive effect on CAKE. Moreover, it can also be the driving factor behind it pie swap TVL increase.

More tricks up your sleeve

One of the ways PancakeSwap can draw attention to itself could be from that Aptos . launch. On October 23, PancakeSwap will finish voting on the launch decision Aptos series. If the vote passes, PancakeSwap could end up getting a lot of attention from the crypto community.

But at the time of writing, PancakeSwap’s TVL has remained flat.

Source: feeling

Also, as can be seen from the image below, TVL was also not on the receiving end of any significant movement. TVL’s total at press time was $2.82 billion.

Source: DeFiLlama

Analyze the end result

Fees and revenue collected by DEX also declined. At the time of writing, the total amount of fees generated by PancakeSwap was $362,000 and the revenue it received was $43,000.

Source: DeFiLlama

One of the reasons for the lower revenue may be the lower number of transactions in DEX. Since the past three months, the number of transactions made on PancakeSwap has decreased. The decrease in the number of transactions may have a bearish effect on the cake.

Source: Dune Analytics

At the time of writing, CAKE was trading at $4.39 and had consolidated 0.5%. CoinMarketCap. Its volatility has decreased by 19.45% in the past 7 days. This may be an indication of low risk around CAKE investments.

Moreover, its dominance of market capitalization also showed growth during the same period and at the time of going to print it acquired 0.7% of the total market.

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