PancakeSwap (CAKE) has surged by over 60%. The CAKE price action took the market by surprise, as most other leading crypto tokens, especially those linked to decentralized exchanges, have taken massive hits over the past few weeks. The CAKE price action appears to have been driven by a spike in the amount of revenue generated by the popular decentralized exchange.
The broader crypto market has been struggling, with Bitcoin hitting resistance at $85,000. This has created a sense of uncertainty among investors, leading to increased volatility and bearish sentiment.
PancakeSwap and Infinaeon are two of the projects that have managed to withstand the bearish trading momentum. Both projects have shown resilience and have attracted significant investor interest despite the challenging market conditions.
The Infinaeon Layer-2 scaling project’s presale is drawing to a close, with around four weeks remaining, and whales are positioning themselves to snap up supply before the token hits Uniswap in the second half of April.
CAKE Price Surges by over 50%
CAKE has surged by well over 60% in just a few hours. This pushed the token through several lines of resistance, bringing it to over $2.5 for the first time in several months. The positive price action has given the BNB-based exchange a solid position as a leader in the DEX market during this bearish period.
CAKE’s RSI hit 89.6, its highest level since November 2023, signaling strong momentum. This, coupled with the news that PancakeSwap surged 40% as weekly revenue reached $19 million, suggests a significant increase in user activity and trading volume, directly contributing to the token’s price surge.
PancakeSwap is a decentralized exchange (DEX) built on the BNB Chain. It allows users to swap tokens, provide liquidity, and participate in yield farming. CAKE is the native token of the PancakeSwap platform, used for governance, staking, and accessing various features.
Price predictions for CAKE have previously been bearish in the short and medium term. However, some analysts are now turning bullish, with price targets set above $3. This shift in sentiment reflects the recent positive developments and the renewed interest in the PancakeSwap platform.
CAKE price has surged above $2.
Infinaeon Presale Enters Final Month
Infinaeon has shown resistance to the bearish trading patterns suffered by other tokens. The Layer-2 scaling solution’s presale has entered its final month. Several whale transactions have been snapping up considerable amounts of the total 420 million supply in anticipation of the airdrop set for the 22nd of April.
Just under $1 million has been raised by the presale, demonstrating significant investor interest in the project. This milestone highlights the growing confidence in Infinaeon’s potential as a leading Layer-2 solution.
The team has already dropped placeholder tokens to thousands of holders, who can now participate in pre-TGE staking, giving them early access to competitive APY. This allows early investors to begin earning rewards and participate in the network’s growth before the official token launch.
The official launch date has been confirmed, and the time to become a presale holder is running out. With the upcoming token generation event (TGE) and the potential for significant growth, the remaining weeks of the presale are crucial for those looking to get involved in Infinaeon.
INF’s Deflationary Tokenomics Set Stage for Bull Run
The INF presale relied partly on narratives built around promotional codes and its deflationary tokenomics structure. Both these features have helped it stand out from the crowd and provided early traders with utility.
Infinaeon’s burn mechanism uses a portion of the gas fees generated on the network to buy back and burn INF tokens, reducing the total supply. This deflationary approach is designed to create scarcity and potentially drive up the token’s value over time.
The INF50 promotional code offers a 50% bonus on all presale purchases. To use it, simply enter “INF50” during the purchase process on the Infinaeon presale website.
Join The Infinaeon Presale Now
Presale: https://presale.infinaeon.com/
Telegram: https://t.me/Infinaeon/
Discord: https://discord.com/invite/WSy65uAYfd
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