{"id":461993,"date":"2021-04-22T19:26:34","date_gmt":"2021-04-22T19:26:34","guid":{"rendered":"https:\/\/wncen.com\/?p=461993"},"modified":"2021-04-22T19:26:34","modified_gmt":"2021-04-22T19:26:34","slug":"pancakeswap-approves-big-burn-for-cake-why-it-could-be-massively-bullish","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/pancakeswap-approves-big-burn-for-cake-why-it-could-be-massively-bullish\/","title":{"rendered":"PancakeSwap Approves \u201cBig Burn\u201d For CAKE, Why It Could Be Massively Bullish"},"content":{"rendered":"

Centralized and decentralized exchanges are stepping up their game, with the upcoming launch of Uniswap v3<\/a>, competition in the sector is bound to be fierce. PancakeSwap\u2019s second iteration is also around the corner. CAKE holders will be able to profit.<\/p>\n

In a recent vote<\/a>, PancakeSwap\u2019s community decided to approve a feature called the \u201cBig Burn\u201d. Therefore, after April 23rd<\/sup> \u201cGreat Migration\u201d the exchange will buy back and burn more CAKE<\/a> \u201cthan ever before\u201d. Every trade in PancakeSwap v2 will \u201ccontribute\u201d to this mechanism.<\/p>\n

The exchange\u2019s daily trading volume sits at around $4 billion. According to the recently approved burn mechanism, this figure will be multiple by 0.05%. As a result, around 2.2 million CAKE could be buyback and burned each day. If PancakeSwap maintains its current daily trading volume<\/a>, its native token buying pressure could skyrocket for the benefit of investors.<\/p>\n

\"PancakeSwap
Source: PancakeSwap<\/figcaption><\/figure>\n

Analyst Vivian Medithi published an article<\/a> on Nasdaq making some bullish predictions on CAKE. At that time, CAKE was trading at $21.26 following a 1,200% year-to-date rally in February. The analyst highlighted the bearish sentiment of some investors and the token\u2019s capacity to prove them wrong.<\/p>\n

Medithi quotes Coinpedia, Wallet Investor, and Digital Coin to backed up a bullish case for this token. The predictions place CAKE between $44 to 80 by the end of 2021. Next year, CAKE could trade for $150 and $280 by 2026. These predictions were made before the \u201cBig Burn\u201d was approved and don\u2019t take into account the new potential increase in buying pressure.<\/p>\n

What\u2019s PancakeSwap \u201cGreat Migration”?<\/h2>\n

Tomorrow at 5:00 am UTC, the \u201cGreat Migration\u201d will take place on PancakeSwap. Due to the upcoming update, the exchange\u2019s smart contract PancakeSwap Router and PancakeSwap Factory required a change in their feed structure. CAKE holders can vote to modify this component.<\/p>\n

They were presented with 4 options: Split (increase trading fee to 0.22%), Burn (0.22%), Big Split (0.25%), and Big Burn (0.25%). As mentioned, users opted for the latter which also provides a 0.17% fee for liquidity providers<\/a> and keeps PancakeSwap\u2019s fee below the \u201ctradition 0.3%\u201d used by their competitors, according to an official post. The migration will also add the following:<\/p>\n

(\u2026) we\u2019re creating a new set of LP Tokens, and our farms and exchange will start supporting the new type instead of the old ones.<\/p><\/blockquote>\n

Investors with tokens on this exchange should be aware that they will stop receiving rewards for the \u201cold type of LP Tokens. Instead, the rewards will shift to the new ones. Users must take their tokens out of all PancakeSwap\u2019s products and add liquidity with the new token to re-stake in new farms to maintain their rewards. The team behind the exchange added<\/a>:<\/p>\n

We\u2019ll also make a new set of farms with the same rewards and token pairs as the old ones. The old farms will stop giving out rewards, so you\u2019ll need to transfer to the new ones to keep farming yield.<\/p><\/blockquote>\n

CAKE is trading<\/a> at $26,85 with a 2.9% loss in the daily chart. In the weekly and monthly chart, CAKE has 17.1% and 144.9% profits, respectively.<\/p>\n

\"PancakeSwap
CAKE with moderate losses in the daily chart. Source: CAKEUSDT Tradingview<\/a><\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

Centralized and decentralized exchanges are stepping up their game, with the upcoming launch of Uniswap v3, competition in the sector is bound to be fierce. PancakeSwap\u2019s second iteration is also around the corner. CAKE holders will be able to profit. In a recent vote, PancakeSwap\u2019s community decided to approve a feature called the \u201cBig Burn\u201d. Therefore, after April 23rd \u201cGreat Migration\u201d the exchange will buy back and burn more CAKE \u201cthan ever before\u201d. Every trade in PancakeSwap v2 will \u201ccontribute\u201d to this mechanism. The exchange\u2019s daily trading volume sits at around $4 billion. According to the recently approved burn mechanism, this figure will be multiple by 0.05%. As a result, around 2.2 million CAKE could be buyback and burned each day. If PancakeSwap maintains its current daily trading volume, its native token buying pressure could skyrocket for the benefit of investors. Analyst Vivian Medithi published an article on Nasdaq making some bullish predictions on CAKE. At that time, CAKE was trading at $21.26 following a 1,200% year-to-date rally in February. The analyst highlighted the bearish sentiment of some investors and the token\u2019s capacity to prove them wrong. Medithi quotes Coinpedia, Wallet Investor, and Digital Coin to backed up a bullish case for this token. The predictions place CAKE between $44 to 80 by the end of 2021. Next year, CAKE could trade for $150 and $280 by 2026. These predictions were made before the \u201cBig Burn\u201d was approved and don\u2019t take into account the new potential increase in buying pressure. What\u2019s PancakeSwap \u201cGreat Migration”? Tomorrow at 5:00 am UTC, the \u201cGreat Migration\u201d will take place on PancakeSwap. Due to the upcoming update, the exchange\u2019s smart contract PancakeSwap Router and PancakeSwap Factory required a change in their feed structure. CAKE holders can vote to modify this component. They were presented with 4 options: Split (increase trading fee to 0.22%), Burn (0.22%), Big Split (0.25%), and Big Burn (0.25%). As mentioned, users opted for the latter which also provides a 0.17% fee for liquidity providers and keeps PancakeSwap\u2019s fee below the \u201ctradition 0.3%\u201d used by their competitors, according to an official post. The migration will also add the following: (\u2026) we\u2019re creating a new set of LP Tokens, and our farms and exchange will start supporting the new type instead of the old ones. Investors with tokens on this exchange should be aware that they will stop receiving rewards for the \u201cold type of LP Tokens. Instead, the rewards will shift to the new ones. Users must take their tokens out of all PancakeSwap\u2019s products and add liquidity with the new token to re-stake in new farms to maintain their rewards. The team behind the exchange added: We\u2019ll also make a new set of farms with the same rewards and token pairs as the old ones. The old farms will stop giving out rewards, so you\u2019ll need to transfer to the new ones to keep farming yield. CAKE is trading at $26,85 with a 2.9% loss in the daily chart. In the weekly and monthly chart, CAKE has 17.1% and 144.9% profits, respectively.<\/p>\n","protected":false},"author":535,"featured_media":461995,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[83647,83585,83578],"class_list":["post-461993","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-cake","tag-cakeusdt","tag-pancakeswap"],"acf":[],"yoast_head":"\nPancakeSwap Approves \u201cBig Burn\u201d For CAKE, Why It Could Be Massively Bullish<\/title>\n<meta name=\"description\" content=\"Centralized and decentralized exchanges are stepping up their game, with the upcoming launch of Uniswap v3, competition in the sector is bound to be\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.","sameAs":["https:\/\/www.linkedin.com\/in\/reynaldo-mrquez-2ab111190\/","https:\/\/x.com\/rl_m"],"url":"https:\/\/wncen.com\/author\/reynaldomarquez\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"PancakeSwap Approves \u201cBig Burn\u201d For CAKE, Why It Could Be Massively Bullish","url":"http:\/\/wncen.com\/news\/pancakeswap-approves-big-burn-for-cake-why-it-could-be-massively-bullish\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/pancakeswap-approves-big-burn-for-cake-why-it-could-be-massively-bullish\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/PancakeSwap-CAKE-CAKEUSDT.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/PancakeSwap-CAKE-CAKEUSDT.jpg?fit=563%2C652"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Reynaldo Marquez"}],"creator":["Reynaldo Marquez"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["cake","cakeusdt","pancakeswap"],"dateCreated":"2021-04-22T19:26:34Z","datePublished":"2021-04-22T19:26:34Z","dateModified":"2021-04-22T19:26:34Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"PancakeSwap Approves \\u201cBig Burn\\u201d For CAKE, Why It Could Be Massively Bullish\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/pancakeswap-approves-big-burn-for-cake-why-it-could-be-massively-bullish\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/pancakeswap-approves-big-burn-for-cake-why-it-could-be-massively-bullish\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/PancakeSwap-CAKE-CAKEUSDT.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/PancakeSwap-CAKE-CAKEUSDT.jpg?fit=563%2C652\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Reynaldo Marquez\"}],\"creator\":[\"Reynaldo Marquez\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"cake\",\"cakeusdt\",\"pancakeswap\"],\"dateCreated\":\"2021-04-22T19:26:34Z\",\"datePublished\":\"2021-04-22T19:26:34Z\",\"dateModified\":\"2021-04-22T19:26:34Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/PancakeSwap-CAKE-CAKEUSDT.jpg?fit=563%2C652","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/461993"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/535"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=461993"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/461993\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/461995"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=461993"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=461993"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=461993"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}