{"id":524980,"date":"2023-03-30T11:30:18","date_gmt":"2023-03-30T11:30:18","guid":{"rendered":"https:\/\/wncen.com\/?p=524980"},"modified":"2023-03-30T10:38:43","modified_gmt":"2023-03-30T10:38:43","slug":"cake-remains-under-pressure-despite-pancakeswap-dominating-bsc","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/defi\/cake-remains-under-pressure-despite-pancakeswap-dominating-bsc\/","title":{"rendered":"CAKE Remains Under Pressure Despite PancakeSwap Dominating BSC"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">CAKE, the utility token of the decentralized exchange, PancakeSwap, remains under pressure days after the Uniswap community voted to launch the exchange on the BNB Smart Chain (BSC), a smart contracting platform.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Uniswap v3 went live on the BSC on March 15, bringing stiff competition to PancakeSwap, which has long been dominant on the smart contracting platform. It also marks the first time Uniswap went live on one of the most active blockchains.\u00a0\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Uniswap is now live on <a href=\"https:\/\/twitter.com\/BNBCHAIN?ref_src=twsrc%5Etfw\" rel=\"nofollow\">@BNBCHAIN<\/a> \ud83d\udd36\ud83e\udd84<a href=\"https:\/\/t.co\/LWPd2TE1x4\" rel=\"nofollow\">https:\/\/t.co\/LWPd2TE1x4<\/a> <a href=\"https:\/\/t.co\/j6aJpoG87z\" rel=\"nofollow\">pic.twitter.com\/j6aJpoG87z<\/a><\/p>\n<p>&mdash; BNB Chain (@BNBCHAIN) <a href=\"https:\/\/twitter.com\/BNBCHAIN\/status\/30400768?ref_src=twsrc%5Etfw\" rel=\"nofollow\">March 15, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span data-preserver-spaces=\"true\">According to coin\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/coinmarketcap.com\/currencies\/pancakeswap\/\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">trackers<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0on March 30, CAKE is changing hands at $3.6, stable on the last trading day but down roughly 22% from February peaks.\u00a0<\/span><\/p>\n<figure style=\"width: 1280px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.tradingview.com\/x\/Em8vj81C\/\" rel=\"nofollow\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/Em8vj81C\/\" alt=\"CAKE Price On March 30| Source: CAKEUSDT On Binance, TradingView\" width=\"1280\" height=\"595\"><\/a><figcaption class=\"wp-caption-text\">CAKE Price On March 30| Source: <a href=\"https:\/\/www.tradingview.com\/x\/Em8vj81C\/\" target=\"_blank\" rel=\"noopener nofollow\">CAKEUSDT On Binance, TradingView<\/a><\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">Notably, CAKE posted sharp losses on February 9. On this day, the Uniswap community voted to deploy Uniswap v3 on the BSC for the first time.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Uniswap Versus PancakeSwap<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Uniswap is a decentralized exchange that is also one of the most popular DeFi dapps, trackers on March 30 indicate.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">DeFiLlama data\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/defillama.com\/dexs\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">shows<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0that Uniswap has a total value locked (TVL) of $3.86 billion and is dominant on Ethereum, where it facilitates the trading of ERC-20 tokens.\u00a0<\/span><\/p>\n<p>Related Reading: <a href=\"https:\/\/wncen.com\/news\/pancakeswap-tvl-drops-12-did-this-exchange-received-a-lethal-blow\/\">PancakeSwap TVL Drops 12%, Did This Exchange Received A Lethal Blow?<\/a><\/p>\n<p><span data-preserver-spaces=\"true\">Compared to others, Uniswap is the fifth largest dapp only after Lido Finance, a liquidity staking protocol; MakerDAO, a decentralized money market; Aave, a lending and borrowing protocol; and Curve, a platform for trustlessly swapping stablecoins.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">PancakeSwap is the second largest DEX with a TVL of $2.48 billion as of writing. The exchange is deployed on the BSC and Ethereum. However, on BSC, where Uniswap v3 was recently launched, PancakeSwap is the most dominant, with a TVL of $2.43 billion. Even though weekly trading volumes have contracted by 29%, the DEX is popular with token traders on BSC.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Meanwhile, Uniswap didn\u2019t start strongly as anticipated on BSC. Instead, Uniswap is the fourth largest DEX\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/defillama.com\/dexs\/chains\/bsc\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">after<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0PancakeSwap, Level Finance, and DODO, managing $10.43 million of assets.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">CAKE Is Down 22% From February 2023 Highs<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">PancakeSwap\u2019s dominance is not helping CAKE prices that remain under pressure. CAKE is perched at 69th on the market cap leaderboard.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/pancakeswap-cake-slides-below-range-is-this-an-entry-point-for-buyers\/\">PancakeSwap (CAKE) Slides Below Range, Is This An Entry Point For Buyers?<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">Since CAKE\u2019s value is pegged to the DEX&#8217;s activities and given how providers supply liquidity to its pool, the token\u2019s overall valuation could be impacted should Uniswap\u2019s TVL rise in BSC. In that case, traders would prefer to trade on Uniswap, an interoperable protocol available on several platforms, including Celo and Algorand, over PancakeSwap, that\u2019s only on BSC and Ethereum.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">While the Uniswap v3 Business Source License (BSL)\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/docs.uniswap.org\/contracts\/v3\/guides\/governance\/liscense-modifications\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">expires<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0on April 1, PancakeSwap v3 is set to be released next month. With the expiry of the Uniswap v3 BSL, any developer will be free to fork their code.<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Feature Image From Canva, Chart From TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"<p>CAKE, the utility token of the decentralized exchange, PancakeSwap, remains under pressure days after the Uniswap community voted to launch the exchange on the BNB Smart Chain (BSC), a smart contracting platform. Uniswap v3 went live on the BSC on March 15, bringing stiff competition to PancakeSwap, which has long been dominant on the smart contracting platform. It also marks the first time Uniswap went live on one of the most active blockchains.\u00a0\u00a0 Uniswap is now live on @BNBCHAIN \ud83d\udd36\ud83e\udd84https:\/\/t.co\/LWPd2TE1x4 pic.twitter.com\/j6aJpoG87z &mdash; BNB Chain (@BNBCHAIN) March 15, 2023 According to coin\u00a0trackers\u00a0on March 30, CAKE is changing hands at $3.6, stable on the last trading day but down roughly 22% from February peaks.\u00a0 Notably, CAKE posted sharp losses on February 9. On this day, the Uniswap community voted to deploy Uniswap v3 on the BSC for the first time. Uniswap Versus PancakeSwap Uniswap is a decentralized exchange that is also one of the most popular DeFi dapps, trackers on March 30 indicate.\u00a0 DeFiLlama data\u00a0shows\u00a0that Uniswap has a total value locked (TVL) of $3.86 billion and is dominant on Ethereum, where it facilitates the trading of ERC-20 tokens.\u00a0 Related Reading: PancakeSwap TVL Drops 12%, Did This Exchange Received A Lethal Blow? Compared to others, Uniswap is the fifth largest dapp only after Lido Finance, a liquidity staking protocol; MakerDAO, a decentralized money market; Aave, a lending and borrowing protocol; and Curve, a platform for trustlessly swapping stablecoins. PancakeSwap is the second largest DEX with a TVL of $2.48 billion as of writing. The exchange is deployed on the BSC and Ethereum. However, on BSC, where Uniswap v3 was recently launched, PancakeSwap is the most dominant, with a TVL of $2.43 billion. Even though weekly trading volumes have contracted by 29%, the DEX is popular with token traders on BSC.\u00a0 Meanwhile, Uniswap didn\u2019t start strongly as anticipated on BSC. Instead, Uniswap is the fourth largest DEX\u00a0after\u00a0PancakeSwap, Level Finance, and DODO, managing $10.43 million of assets. CAKE Is Down 22% From February 2023 Highs PancakeSwap\u2019s dominance is not helping CAKE prices that remain under pressure. CAKE is perched at 69th on the market cap leaderboard. Related Reading: PancakeSwap (CAKE) Slides Below Range, Is This An Entry Point For Buyers? Since CAKE\u2019s value is pegged to the DEX&#8217;s activities and given how providers supply liquidity to its pool, the token\u2019s overall valuation could be impacted should Uniswap\u2019s TVL rise in BSC. In that case, traders would prefer to trade on Uniswap, an interoperable protocol available on several platforms, including Celo and Algorand, over PancakeSwap, that\u2019s only on BSC and Ethereum. While the Uniswap v3 Business Source License (BSL)\u00a0expires\u00a0on April 1, PancakeSwap v3 is set to be released next month. With the expiry of the Uniswap v3 BSL, any developer will be free to fork their code. Feature Image From Canva, Chart From TradingView<\/p>\n","protected":false},"author":384,"featured_media":524981,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83405],"tags":[83647,54512,83578,80532,83594],"class_list":["post-524980","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-defi","tag-cake","tag-defi","tag-pancakeswap","tag-uniswap","tag-uniswap-v3"],"acf":[],"yoast_head":"\n<title>CAKE Remains Under Pressure Despite PancakeSwap Dominating BSC<\/title>\n<meta name=\"description\" content=\"CAKE, the utility token of PancakeSwap, remains under pressure days after the Uniswap community voted to launch the exchange on BSC.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. 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