PancakeSwap Records 9-Month High Volume After SpringBoard Launch
TOKEN
CAKE
BTC
BNB
DEX
- Single-day trading volume of PancakeSwap went past $1.27 billion on December 4.
- PancakeSwap DEX recorded 9-month high trading volume after launching the SpringBoard feature.
One of the largest decentralized exchanges on the BNB Chain, PancakeSwap handled more than $1.27 billion single day trading volume yesterday. Analysts are predicting the growth in trading volume is a result of PancakeSwap announcing no-code token creation platform SpringBoard launch.
Apart from the announcement, the ongoing hype around Bitcoin reaching $100K and overall bullish market sentiment could further boost trading volumes on decentralized and centralized exchanges alike.
As per the analytics from the official PancakeSwap website, the single-day trading volume hit $1.27 billion on Dec 04, a few hours after the announcement of PancakeSwap SpringBoard launch, while the total value locked (TVL) stood at $384.72 million. This is a 9-month-high single-day trading volume since March this year.
At the time of reporting, the TVL increased 2.51% and is $391.97 million and the 24-hour trading volume is around $1.25 billion. Notably, 24-hour fees on PancakeSwap are $832.68K, with an increase of 67%. On another note, the native token CAKE value is trading at around $3.9, after briefly touching $4.38 yesterday.
PancakeSwap SpringBoard: A No-code Token Creation and Launching Feature
PancakeSwap launched a no-code token creation and launching feature, called SpringBoard. This feature helps developers, projects, and creators to launch their tokens without any prior coding experience. With zero launching fees, multiple trading pairs, and automatic liquidity-providing features, the SpringBoard platform is garnering attention from the community.
Analysts compare the SpringBoard feature Pump.fun, indicating the similarities between the two. There is significant room for growth for PancakeSwap as a result of the SpringBoard feature, similar to how meme coins on Solana increased exponentially after Pump.fun launch.
In case, SpringBoard becomes a massive success similar to Pump.fun, we can witness substantial increase in CAKE price and the upcoming token launches on SpringBoard, combined with the ongoing bullish market season.
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