A crucial partnership that can boost the price of pancakes

The decentralized PancakeSwap exchange, whose main token has not had a good price trend for some time, is set to partner with another project and add a new feature to its program. This new feature and collaboration may be able to pull the token out of its long-term decline.

Pancake Swap, a decentralized exchange based on China’s Bainance Smart Network (BSC), is expected to introduce a new feature on its platform in a few days, according to CryptoSlit. However, the developers of this exchange have so far only mentioned that they have partnered with another group to add this feature, and this has led to more speculation about future plans for Pancake Swap.

CAKE, the stock market’s own token, was caught in a weekly downturn cycle and made three failed attempts to break the $ 8.80 resistance level on January 23. As buyers of this digital currency failed to break through this resistance, the price of swan pancakes fell further and fell to the support level of $ 5.50 on February 24 (March 26).

Since then, the exchange of pancakes has fluctuated in the narrow range of $ 5.80 to $ 7.20. Currently, the price of a pancake swap is a little more than $ 6, which shows an 86% drop in the value of this token compared to its highest historical price on April 30, 2021 (May 10), ie. $ 43.96.

A crucial partnership that can boost the price of pancakes
Swap the price chart for pancakes in a casual look.

Investors at Pancake Swap now hope that the unveiling of this partnership and a new feature will help improve prices.

Falling rank of pancake exchange on the market

Pancake Swap officially entered the digital currency industry in September 2020. The token quickly gained popularity as a faster and cheaper version of Uniswap, Atrium’s first decentralized exchange.

Its initial success was due in part to high Atrium charges, which peaked in the summer of 2020. At the time, many consumers were unhappy with the payment of hundreds of dollars in Atrium charges. As a result, a reliable competitor such as Pancake Swap has managed to attract users interested in DeFi.

In addition to lower fees, Pancake Swap has a number of innovations for projects that have not been seen in decentralized exchanges so far. These innovations include launching a market for NFT tokens and the opportunity to offer new tokens in the form of an initial farm offering. The introduction of new tokens in the form of profit-making or “IFO” is a way to introduce tokens for a start-up project through Yield Farming, while helping to fund new projects launched in the Bainance network.

These innovations led Pancake Swap to rise to 25th in market value on May 2, 2021 (May 12, 1400). But since its peak 11 months ago, the exchange of pancakes has been declining. Currently, the token is in 56th place in terms of market value.

What is the new feature and collaboration of Pancake Swap?

There is a lot of speculation about the new feature, as well as what set Pancake Swap is partnering with.

This decentralized exchange has recently added the ability to limit orders to its program, which is usually a bit unusual to see in a decentralized exchange. Limited orders allow consumers to buy and sell their tokens automatically at the desired price, just like centralized exchanges. This means that consumers can now place an order to buy or sell and then cancel.

However, since the new feature involves working with another collection, this feature should probably be something much larger than another type of market order. In addition to rumors, the off-chain connection (adding other nets to the pancake exchange) may be what is needed to improve the price trend of cake tokens. For now, however, we will have to wait for the official presentation of this partnership.

The publication Decisive cooperation, which can make the price of pancakes jump Exchange, appeared for the first time in Arzdigital.

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