CAKE’s revenue and fees were on a declining trend before v3’s launch. CAKE was ahead of UNI, but its price action was bearish. PancakeSwap’s [CAKE] launched PancakeSwap V3 on 3 April. The V3 introduced new features that would make DeFi accessible to more people than before. Earlier, in March, CAKE had mentioned that early supporters […]
The hype around the V3 launch also helped increase discussions around CAKE, as its social volume went up. Additionally, positive sentiments around PancakeSwap rose considerably as well.
revealed that PancakeSwap’s fees and revenue have been on a declining trend. However, V3’s launch could attract new users, in turn increasing its revenue over the coming months. In fact, network activity had already increased at press time, as evidenced by the increase in its daily active addresses.
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