Coinbase Eyes PancakeSwap (CAKE) Listing as DEX Hits Record Volumes Despite Price Dip
Coinbase, the largest US crypto exchange, has added PancakeSwap’s native token CAKE to its asset listing roadmap, signaling likely support for CAKE trading in the near future. PancakeSwap, a leading decentralized exchange (DEX) built on BNB Chain, recently achieved record trading volumes: $173 billion in May and over $228 billion in the past 30 days, surpassing Uniswap. Despite this growth in volume and DeFi sector strength, CAKE’s price remains weak—trading at $2.25 and dropping more than 7% in the last 24 hours and nearly 11% over the week. Coinbase’s asset roadmap, introduced in 2022, aims to increase transparency and avoid frontrunning but does not guarantee listings. CEO Brian Armstrong reiterated that all assets must meet strict compliance and technical requirements before being listed. A future CAKE listing on Coinbase could boost the token’s liquidity and exposure, especially given current high DEX trading activity. Historically, such roadmap additions can spark short-term volatility and increased trading interest. Traders should monitor for official listing confirmation, as this development reflects both the growing role of DEXs and potential market opportunities for CAKE.
Bullish
Adding CAKE to Coinbase’s listing roadmap increases the likelihood of the token being officially listed on the leading US exchange, which historically results in higher liquidity, greater exposure, and surges in trading volumes. While CAKE has seen significant trading volume growth on its native DEX—even outpacing Uniswap—its price has recently dipped, suggesting room for a potential rebound if listed. Traders typically react positively to new Coinbase listings, driving short-term price volatility and sometimes sustained rallies, especially for assets involved in high-performing sectors like DeFi and DEXs. However, the roadmap inclusion does not guarantee a listing, and the final effect will depend on meeting compliance and technical standards. Overall, this development is bullish for CAKE, particularly if a formal listing occurs amid high sector activity.