Kategorie: Crypto News

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Why is PancakeSwap price rising today?

  • PancakeSwap (CAKE) today surged by 64.58%, hitting an intraday high of $3.16.
  • Binance ecosystem resurgence has been a major boost for PancakeSwap.
  • Whale moves signal CAKE price optimism.

PancakeSwap’s native token, CAKE, has seen a remarkable surge, jumping from an opening price of $1.92 to an intraday high of $3.16 according to CoinGecko data, marking a 64.58%.

Trading currently at around $3, CAKE’s price movements reflect a broader market optimism that is driven by several specific catalysts unique to PancakeSwap and the BNB Chain ecosystem.

Surge in trading volume on BNB Chain

The primary driver behind CAKE’s price increase is the resurgence in activity on the BNB Chain.

PancakeSwap has outperformed decentralized exchanges (DEXs) on nine chains including BSC, Ethereum, Polygon zkEVM, and Abirtum in terms of trading volume, both on a weekly and daily basis.

PancakeSwap has outperformed decentralized exchanges (DEXs)

This spike in volume is a direct result of renewed user interest in the BNB Chain, which has been witnessing a revival. It can also be attributed to the weekly CAKE revenue-sharing model that has been distributing significant CAKE tokens to revenue-sharing pool participants weekly, with the most recent distribution occurring on February 13.

The increased activity has not only bolstered the platform’s liquidity but also enhanced the utility and demand for CAKE.

Binance’s influence

Binance, which controls nearly 55% of cryptocurrency trading activity, has also significantly contributed to PancakeSwap’s price surge. The exchange’s success directly benefits platforms like PancakeSwap, which are part of the broader Binance ecosystem.

Additionally, Binance’s decision to resuscitate its decentralized ecosystem, coupled with the launch of features that allow for the creation of meme cryptocurrencies, has funnelled more users and traders to PancakeSwap. This has made it a burgeoning hub for both established and new speculative tokens, thereby increasing the intrinsic value of CAKE.

Whale activity and positive market sentiment

Another notable factor in CAKE’s price rally is the activity from significant market players or “whales.”

Reports indicate that a former PancakeSwap advisor and BNB whale made substantial withdrawals of CAKE and other tokens from Binance, signalling optimism among whales.

Influential figures’ moves often sway market sentiment, leading to increased buying pressure on CAKE.

Meme tokens and ecosystem expansion

PancakeSwap’s decision to list new memecoins like the Test Token (TST) has further fueled its growth.

By expanding into the meme token space, which is popular among retail investors, PancakeSwap is not only diversifying its offerings but also tapping into a demographic known for driving high trading volumes.

This strategic move could transform PancakeSwap’s profile from primarily hosting blue-chip tokens to being a go-to platform for all types of cryptocurrencies.

With all these developments, the price of PancakeSwap (CAKE) could see more gains with the next key target being $3.66.

The post Why is PancakeSwap price rising today? appeared first on CoinJournal.

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Coinbase sets its sights on re-entering the Indian market

  • Coinbase disabled new user sign-ups in India in 2023 following regulatory roadblocks
  • Brian Armstrong, Coinbase’s CEO, said the platform faced “internal pressure” from India’s central bank
  • Binance resumed its operations in India last August after registering with the FIU

Crypto exchange Coinbase is looking at re-entering India after pausing its operations there more than a year ago.

According to sources familiar with the matter, the exchange is in discussion with authorities, including India’s Financial Intelligence Unit (FIU), reports Tech Crunch.

A company spokesperson said: “Coinbase is excited by the opportunities in the Indian market and intends to comply with applicable regulatory requirements.”

Services discontinued

In June 2023, Coinbase disabled new user sign-ups in India after failing to progress with local authorities after launching its exchange product.

In 2022, Coinbase stopped its United Payments Interface (UPI) system just three days after launching its product. Later, Brian Armstrong, Coinbase’s CEO, said it had received “informal pressure” from the country’s central bank to withdraw UPI payments.

Armstrong said during an earnings call, at the time, that there was “informal pressure from the Reserve Bank of India (RBI), which is kind of the Treasury equivalent there.”

While crypto trading isn’t illegal in India, lenders typically avoid doing business with crypto companies for fear of upsetting the RBI.

The move from Coinbase also comes at a time when crypto exchange Binance resumed its operations in India last August after registering with the FIU.

The post Coinbase sets its sights on re-entering the Indian market appeared first on CoinJournal.

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Avalon Labs evaluating a Bitcoin-backed public debt fund

  • Avalon Labs is planning to introduce a Bitcoin-backed public fund under SEC Regulation A.
  • Avalon Labs aims to bridge traditional finance and crypto, expanding Bitcoin’s utility.
  • Avalon’s AVL token has been listed on Bybit, boosting liquidity and community governance.

Avalon Labs has decided to explore the uncharted territory of Bitcoin-backed lending products by leveraging SEC’s Regulation A framework.

Barely a day after Avalon Labs announced the listing of its native token, AVL, on Bybit’s Spot trading platform, the company has announced it is considering launching a Bitcoin-backed public fund under the SEC Regulation A.

The timing of this announcement coincides with a period of economic uncertainty, with rising inflation and evolving Federal Reserve policies influencing investor sentiment.

By providing a structured entry point into Bitcoin investment for retail investors, Avalon might just lower the entry barriers for traditional investors, thereby expanding Bitcoin’s utility and acceptance.

Expanding Bitcoin’s reach into traditional finance

Avalon Labs’ move is seen as an attempt to open the door for massive adoption of Bitcoin-backed products, making them accessible not just to crypto enthusiasts but also to traditional investors. The initiative aims to position Bitcoin (BTC) not just as a store of value but as a dynamic financial instrument capable of generating yield through DeFi opportunities.

By using Regulation A, often dubbed a “mini-IPO,” Avalon Labs seeks to bypass the complexities of a full SEC registration while ensuring compliance and transparency. This approach, commonly utilized by real estate investment trusts (REITs) and private funds, could provide a structured investment vehicle for retail investors, thus bridging the gap between traditional finance and the burgeoning crypto market.

Avalon’s native token AVL debuted on Bybit on February 12

Parallel to this financial exploration, Avalon Labs has also solidified its token ecosystem with the listing of AVL on Bybit. This move not only enhances liquidity but also introduces the token to a broader audience.

AVL serves as the governance token, enabling community-driven decision-making, while USDa, the Bitcoin-backed stablecoin, offers a stable, bank-independent currency for on-chain transactions.

The integration of AVL into Bybit’s platform, coupled with the potential launch of a public debt fund, underscores Avalon Labs’ strategic approach to expanding its footprint in the DeFi and traditional finance sectors.

The post Avalon Labs evaluating a Bitcoin-backed public debt fund appeared first on CoinJournal.

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MEXC launches STORY (IP) launchpool & airdrop+, offering 68,500 IP & 50,000 USDT in bonuses

MEXC, the world’s leading cryptocurrency trading platform, has announced the launch of its Launchpool initiative in collaboration with the renowned blockchain project STORY (IP).

This initiative highlights the close partnership between MEXC and STORY, showcasing their joint efforts to expand the STORY network. By introducing two major events—a Launchpool featuring a 60,000 IP reward pool and an Airdrop+ offering 8,500 IP plus 50,000 USDT—this collaboration further accelerates the growth of the STORY network while driving innovation in the blockchain space.

MEXC Supports the STORY Network with the Launch of IP Launchpool

In the digital age, traditional intellectual property (IP) management faces growing challenges. Centralized platforms and complicated intermediaries often lead to inefficiencies, high costs, and trust issues for creators. As a Layer 1 blockchain built with Cosmos SDK, STORY combines DeFi and AI technologies to offer automated, transparent, and cost-effective IP management solutions. With full EVM compatibility and a modular architecture, STORY empowers creators to tokenize their IP assets, automate royalties, and simplify licensing processes. MEXC’s support of the STORY network highlights the growing importance of such innovations in blockchain. 

As a global leader in digital asset trading, MEXC consistently supports innovative blockchain projects. Its Launchpool initiative with STORY reaffirms this commitment. This collaboration not only strengthens the STORY ecosystem but also empowers global creators and developers to explore the potential of decentralized IP management. MEXC’s broad market coverage and strong liquidity offer the environment for blockchain projects like STORY to thrive and bring new possibilities to the digital economy. By allowing users to stake USDT, MX, and IP tokens to earn rewards, MEXC provides a platform for increased exposure and growth for STORY. Visit the STORY (IP) pre-market page to see this innovation in action.

Celebrate the IP Launchpool & Airdrop+ with a Prize Pool of 68,500 IP & 50,000 USDT

As a pioneer in the cryptocurrency industry, MEXC continues to foster innovation and support emerging blockchain ecosystems. MEXC is hosting two major STORY (IP) events: the Airdrop+ event, running from February 12, 2025, 10:00 (UTC) to February 26, 2025, 10:00 (UTC), featuring 8,500 IP plus 50,000 USDT in rewards, and the Launchpool, taking place from February 12, 2025, 10:00 (UTC) to February 15, 2025, 10:00 (UTC), with a 60,000 IP reward pool. These initiatives underscore MEXC’s ongoing commitment to advancing blockchain innovation and delivering valuable opportunities to the crypto community.

These activities include:

  • Event 1: IP Launchpool – Stake USDT, MX & IP to Share 60,000 IP
  • Event 2: Join Airdrop+ to Share 8,500 IP & 50,000 USDT bonus
    • Perk 1: Deposit and Share 5,600 IP (New User Exclusive).
    • Perk 2: Spot Challenge – Trade to Share 1,700 IP.
    • Perk 3: Futures Challenge – Trade to Share 50,000 USDT in Futures Bonuses.
    • Perk 4: Invite New Users and Share 1,200 IP.

MEXC continues to expand its market share in the centralized exchange space, leveraging its first-mover advantage in listing promising and valuable projects. As one of the leading cryptocurrency exchanges, with its commitment to innovation, user-centric approach, and strategic focus on early-stage token listings, MEXC remains at the forefront of the crypto industry, providing strong access to the rapidly growing blockchain ecosystem.

About MEXC

Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto”. Serving over 30 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, frequent airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.

MEXC Official Website｜ X ｜ Telegram ｜How to Sign Up on MEXC

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Trump is planning to pick former CFTC commissioner Brian Quintenz as chair

  • Quintenz served as a CFTC Commissioner between 2017 and 2021 as part of the Technology Advisory Committee
  • CFTC Commissioner Caroline Pham has been filling in as acting chair

US President Donald Trump is reportedly considering Brian Quintenz – a former CFTC commissioner – to lead the agency.

Quintenz, who served as a Republican commissioner at the Commodity Futures Trading Commission during Trump’s first term in the White House, is currently the head of policy at Andreessen Horowitz’s a16z crypto arm, according to a document reviewed by Bloomberg.

If Quintenz is confirmed to lead the agency, it’s expected that he’ll push for pro-crypto changes. These could help establish the CFTC as the preferred regulator over the Securities and Exchange Commission (SEC).

In January, Trump named CFTC Commissioner Caroline Pham as acting chair. Pham, who has championed a digital assets regulatory framework, promoted the digital assets “regulatory sandbox” in the US in 2023 setting the ground for the emergence of new technologies and a pilot program for digital assets.

In a statement, Pham said: “I congratulate my friend Brian Quintenz on his selection for CFTC Chairman. I worked with Brian on important initiatives that he led to success when he was a CFTC Commissioner. He will do the same for crypto and innovation. I look forward to supporting Brian and his leadership at the CFTC.”

In December, it was reported that Quintenz was in the running to lead the agency following the departure of Rostin Behnam, former chair of the CFTC.

The post Trump is planning to pick former CFTC commissioner Brian Quintenz as chair appeared first on CoinJournal.