Coinbase De Eye PancakeSwap (CAKE) Listing As DEX Hits Record Volumes Even Though Price Drop
Coinbase, di biggest crypto exchange for US, don add PancakeSwap own token wey be CAKE for their asset listing plan, weh mean say e fit support CAKE trading soon. PancakeSwap, wey be one major decentralized exchange (DEX) wey dem build for BNB Chain, just reach record high trading volumes: $173 billion for May and pass $228 billion for last 30 days, pass Uniswap level. Even though di volume don dey grow and DeFi sector strong, CAKE price still weak—e dey trade for $2.25, don drop pass 7% for last 24 hours and almost 11% for di whole week. Coinbase asset plan wey dem start for 2022 wan make everything clear and avoid people wey dey run front but e no sure say listing go happen. CEO Brian Armstrong talk say all asset gats meet strict compliance and technical rules before dem fit list am. If CAKE list for future for Coinbase, e fit make di token dey easy to trade and dem go sabi am well, especially because DEX trading just dey high now. Normally, when dem add tokens like this for roadmap, e fit bring short time market wahala and more interest for trading. Traders suppose dey watch for official listing confirm because di update show say DEXs dey gain more place and there be market chance for CAKE.
Bullish
Adding CAKE to Coinbase listing roadmap dey increase di chance say di token go officially dey listed for di main US exchange, wey normally mean say liquidity go higher, more people go sabi am, and trading go increase. Even though CAKE don dey enjoy plenty trading for im own DEX—pass even Uniswap—im price don dey fall recently, mean say e fit rise again if im get listed. Traders dey usually happy when Coinbase list new tokens, and dis fit make price move quick and sometimes keep going up, especially for tokens wey dey inside sectors like DeFi and DEXs wey dey do well. But, to dey inside di roadmap no mean say listing done for sure, because dem must meet all compliance and technical standards first. Overall, dis development be better thing for CAKE, especially if dem fit officially list am when sector activity dey high.