2022-11-30
According to the latest statistics from CryptoRank, trading volume on PancakeSwap increased by 56% during November, with Binance's well-known decentralized exchange taking second place in terms of turnover in DEX's segment and $86.5 million per day.
ref: CoinMarketCap Nov, 30 2022 11:00 AM
Overall, the website reported a 110% increase in average monthly trading volume on DEX during the month, which is clearly related to the loss of trust in centralized trading sites following the collapse of FTX, a major CEX.
The FTX crisis" has created a new trend towards decentralized finance, and the inflow of capital and attention to all the projects involved.
However, despite Pancakeswap's Volume soaring performance, the price of cake tokens still showed no notable movements, but after the FTX incident, the price of cake tokens fell only 16%, trading in the $4 area and with relatively modest price volatility.
Source link: u.today
