- Ether’s value has increased by 12% since the start of Q4.
- PancakeSwap’s native token, CAKE, has seen a 92% increase in a week.
- Uniswap leads in TVL with $3.01 billion.
Ether’s value has seen a 12% increase since the start of Q4, following a significant market downturn in Q3. Thankfully, the sector has rebounded from the bear market, with the DeFi sector, particularly, showing strong recovery.
Numerous elements drive the overall increase in Ethereum’s
CoinGecko reports that, at the time of writing, DEX tokens hold a market capitalization of $9.93 billion and a 24-hour trading volume of $1.60 billion. Additionally, DefiLlama data indicates a swift increase in the total locked volume of ETH, currently standing at $23.8 billion. Uniswap leads in terms of Total Value Locked (TVL), while Pancakeswap tops the list in terms of volume.
The native token of the decentralized exchange PancakeSwap, CAKE, has seen a swift increase of 92% within a week. This significant surge in market value directly follows the implementation of a new feature on its platform, known as Position Manager.
The recently introduced instrument allows users to transfer funds into a secure vault, which are then systematically distributed to liquidity pools for yield farming. Currently, CAKE’s Total Value Locked (TVL) stands at $61.82 million, accompanied by a 24-hour trading volume of $343.83 million and a market capitalization of $550.71 million.
At the time of writing, Uniswap, a highly respected Decentralized Exchange (DEX), demonstrates its worth by leading the Total Value Locked (TVL) ranking. This exchange platform, which supports ERC-20 tokens, utilizes the Automated Market Maker model to transform the way token swaps are conducted.
The Total Value Locked (TVL) of UNI, the proprietary token of Uniswap, currently stands at $3.01 billion. As of the latest reports, the 24-hour trading volume of UNI is $361.63 million, and its market capitalization is valued at $3.64 billion.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
