Pancakexwap has pulled the 52.7% rally in the last 24 hours, which is fuel with its growing appearance in DEFI space.
Since launching, pancakexwap (cake) has become a leading automatic market manufacturer in several blockchain, including BNB series, atherium, anptose and polygon. Right now, it is closed about the total value $ 1.85 billion,
Recently, Pancakexwap has been performing better than major dex rivals such as Uniswap and Radium in terms of trading volume. In the last one week, its total amounts increased by $ 21.2 billion.
Connecting the speed, former Binance CEO Changpeng Jhao reacted to the recent milestone, further publicized within the community.
AI agent launch platform myshell.ai Pancakexwap was seen further in the price of cake after the exclusive token generation event of Binance Wallet. events There is a possibility of contributing to the increased activity on the stage, the traders continued with its services to potentially run the high demand for cakes.
A lift in cake holders was also with a rally. According to the figures of the Sentament, the total number of cake holders has increased by 14.56% compared to the previous year.
In particular, large holders who hold 10,000 to 1 million tokens and 10 million to 100 million tokens have increased significantly in the last 4 days because its weighted social spirit is positive.
At the top of it, according to the coating, more than 91 million cakes were extracted from centralized exchanges in the last 24 hours. dataWhile writing, the cake was also one of the top trending tokens on Koeningco.
Futures merchant cakes are boom
Looking at his open interest in the futures market, traders are looking at the opposite stake. In addition to the OI of the Coinglass show cake, data has increased by 120% to hit a high level of $ 86.08 million, with its weighted money 0.0047%.
A positive money rate, with a sharp increase in open interest, usually means that traders are opening a longer position in expectation that the current rally will expand.
Technical indicators on the 1-day chart have also rapidly indicated. The MACD line has crossed the top of the signal line, both pointed upwards, indicating that the Bulish rally will continue in the short term.
Aroon indicators confirms this uptrend, 100% with Aroon and Aroon at 28.57%, indicate the major rapid speed and minimum bottom pressure.
Its RSI currently sits at 72.5, even though in the overbott area, often indicates the speed of continuous speed during strong uptrend, especially when supported by an increase in open interest and positive technical signs.
For example, if the speed persists, the cake will proceed to resume its high level of December 4.32 in the coming days.
At the time of press, the cake was exchanging hands at $ 2.84, while its market cap was more than $ 860 million.
