Why is PancakeSwap price rising today?

PancakeSwap (CAKE) today surged by 64.58%, hitting an intraday high of $3.16. Binance ecosystem resurgence has been a major boost for PancakeSwap. Whale moves signal CAKE price optimism. PancakeSwap’s native token, CAKE, has seen a remarkable surge, jumping from an opening price of $1.92 to an intraday high of $3.16 according to CoinGecko data, marking […] The post Why is PancakeSwap price rising today? appeared first on CoinJournal.

Feb 13, 2025 - 13:31

PancakeSwap (CAKE) today surged by 64.58%, hitting an intraday high of $3.16.
Binance ecosystem resurgence has been a major boost for PancakeSwap.
Whale moves signal CAKE price optimism.

PancakeSwap’s native token, CAKE, has seen a remarkable surge, jumping from an opening price of $1.92 to an intraday high of $3.16 according to CoinGecko data, marking a 64.58%.

Trading currently at around $3, CAKE’s price movements reflect a broader market optimism that is driven by several specific catalysts unique to PancakeSwap and the BNB Chain ecosystem.

Surge in trading volume on BNB Chain

The primary driver behind CAKE’s price increase is the resurgence in activity on the BNB Chain.

PancakeSwap has outperformed decentralized exchanges (DEXs) on nine chains including BSC, Ethereum, Polygon zkEVM, and Abirtum in terms of trading volume, both on a weekly and daily basis.

PancakeSwap has outperformed decentralized exchanges (DEXs)

This spike in volume is a direct result of renewed user interest in the BNB Chain, which has been witnessing a revival. It can also be attributed to the weekly CAKE revenue-sharing model that distributes significant CAKE tokens to revenue-sharing pool participants weekly, with the most recent distribution having occurred on February 13.