A new Chainalysis report has revealed that decentralized exchanges (DEX) are currently outgrowing their centralized counterparts as their numbers have spiked massively within the last year.Decentralized exchanges outgrow centralized exchangesAccording to the Chainalysis report, DEXs such as Uniswap, Curve, and PancakeSwap saw a growth of about 550% between August 2020 to … [Read more...] about DEXs like Uniswap, PancakeSwap, and Curve saw a 550% growth last year
PancakeSwap
This crypto scammer ended up scamming himself on Pancakeswap
There’s something highly satisfying when karma strikes. None more so than when a crypto scammer gets their comeuppance. A Reddit user posted in the r/pancakeswap subreddit—the public forum of decentralized exchange Pancakeswap—asking for help in returning funds from a BEP-20 token he created.It turns out this was a scam token mimicking an existing unranked project whose use … [Read more...] about This crypto scammer ended up scamming himself on Pancakeswap
PancakeSwap eclipses Ethereum network in 24-hour transactions
PancakeSwap, a syrupy rabbit-themed decentralized exchange that calls the Binance Smart Chain its home, has surpassed the entire Ethereum network in terms of transaction volume over a 24-hour period.Data courtesy of DappRadar shows over 2 million transactions for PancakeSwap compared with 1.55 million for Ethereum. At the same time, Binance Smart Chain reported over 6 million … [Read more...] about PancakeSwap eclipses Ethereum network in 24-hour transactions
Bitcoin rallies to $58,000 while PancakeSwap (CAKE) crosses $6 billion TVL
Bitcoin surged on Monday following a choppy weekend that saw the asset plunge to as low as $50,290. It trades over $58,000 at press time amidst a broader price rise in the crypto market on the back of an announcement by Visa.As the below image shows, the asset trades above its 34-period exponential moving average—a tool used by traders to determine the market trend—meaning … [Read more...] about Bitcoin rallies to $58,000 while PancakeSwap (CAKE) crosses $6 billion TVL
PancakeSwap (CAKE) aims to take a slice out of Uniswap’s DeFi dominance
Decentralized finance has taken a back seat to nonfungible tokens over the past month but this hasn’t stopped the top DeFi projects from developing and strategizing how to grow their ecosystems and market share. One project that has outperformed the field as of late is PancakeSwap (CAKE), the Binance Smart Chain-based automated market maker (AMM) that allows users to exchange … [Read more...] about PancakeSwap (CAKE) aims to take a slice out of Uniswap’s DeFi dominance