- PancakeSwap’s January roundup highlights some notable achievements.
- Price action and on-chain metrics are bullish for CAKE.
Pancake Exchange (CAKE) posted its January 2023 roundup on February 17, in which it highlighted the state of the network for the first month of 2023. PancakeSwap reportedly hit a few milestones during January.
✍️ Pancakeswap January Recap
😎 Do you want to know what we have been cooking in the kitchen this last month?
💚 Launch of the Q1 2023 roadmap
🥇 More than 50% domain in the Aptos network
🚜 update for bCAKE Farm Booster
👉 Read more here: pic.twitter.com/eLKZDcdUfN
— PancakeSwap 🥞 #Multicadena (@PancakeSwap) February 17, 2023
realistic or not, here it is Pie Market Cap in BTC terms
2023 achievements
In January, the average daily volume for PancakeSwap reached $162 million with total volume of $5 billion. Furthermore, the total number of unique merchants reached 1.5 billion, while the number of unique users on the site reached 3 million.
Apart from the stats, PancakeSwap also reached new heights in the DeFi space, achieving over 50% dominance in the Aptos network. developed it Cake Leading DEX in both bnb AND fitWhich was quite an achievement in itself. Additionally, CAKE has been implementing, testing and improving liquidity levels, trading experience and overall UI/UX on Aptos since multi-chain voting.
Interestingly, Pancakeswap also announced the launch of its new Ambassador Program, designed to unite the Pancakeswap community and empower its users to represent Pancakeswap in their local areas.
2/1🥳 We are excited to announce the launch of the PancakeSwap Ambassador Program!
🤝 A way to reward relationships with our closest allies! pic.twitter.com/crPXxr7qla
— PancakeSwap 🥞 #Multicadena (@PancakeSwap) February 17, 2023
Is the PancakeSwap network still growing?
CAKE’s growth does not appear to have stalled in February as various developments have suggested the future looks bright. For example, the price of CAKE has increased by more than 17% in the last 30 days. According coin market capCAKE posted a daily price increase of more than 3% and was valued at $4.21 at press time, with a market capitalization of more than $807 million.
Not only that, but CAKE was also the second most traded featured project on BNB over the past seven days.
🎉Most sold featured projects #bnbicadena last 7 days🚀$floki @realflokiinu$cake @pancakeswap$high @highstreetworld$ANKR @ankr$TWT @trustwallet
$babydoge @babydogecoin$GAL @Galxe$ata @redautomatica$chess @trachess$weight @Biswap_Dex#bnb #bsc #WEB3 #metaverse #defy pic.twitter.com/QitgvMBA8D—BSCDaily (@bsc_daily) February 17, 2023
Reading Pancakeswap (CAKE) Price Prediction 2023-24
The sentiment charts showed that CAKE’s performance on the metrics front was also positive. CakeThe number of daily active addresses has seen a sharp increase over the past seven days, indicating increasing network usage. The crypto community’s confidence in CAKE also seemed to be growing, which was evident from the positive sentiment it has seen recently.
LunarCrush Statistics It turns out that CAKE’s market dominance has increased significantly in the past seven days, which is also a positive sign. However, the MVRV ratio for cakes remained relatively low over the last week despite the increase in prices.
