BNB chain’s BNB token and pancakeswap’s cake bucked low-volatility market conditions to rally 9.3% and 35% respectively even as bitcoin (Btc), the largest cryptocurrency, remained rangebound at $ 96,200.
The cake has more than Doubled in the past seven daysA move that coincides with a spike in trading volume, with $ 1.1 billion noticed over the past 24 hours, according to CoinMarketCap data.
Meanwhile, BNB, Sola filed Sola in terms of market cap following a series of tweets from Binance founder Changpeng Zhao, who Hinted In “contact with Memecoins” in the BNB chain.
Moving to BNB and cake is linked because the cake is the native token of Decentralized exchange Pancakeswap, the largest protocol in the BNB chain.
Raising activity comes as Bitcoin experiences a blurry. The BTC has exchanged between $ 95,000 and $ 98,000 since Feb. 8.
Rangebound price action for BTC usually leads to an increase in activity in alternative cryptocurrencies, or altcoins, as merchants tend to look for more speculation. In the past 24 hours Lido, Inj, JTO and Hype have gained everything between 7% and 9%.
