PancakeSwap DEX Leads the Way: CAKE Soars 16% as TVL Hits $1.62B

After retesting and rebounding from a crucial support level of around $1.55 in the past few weeks, PancakeSwap (CAKE), the largest decentralized exchange (DEX) on the BNB chain, has signaled a shift to bullish sentiment. The mid-cap altcoin, with a fully diluted valuation of about $794 million and a 24-hour average trading volume of around $239 million, pumped more than 16 percent in the last 24 hours to trade around $2.16 on Monday, March 17, during the mid-European session.