$CAKE is hyping as PancakeSwap's trading volume surges 56% on DEX narrative pancake pancakeswap cake dex defi bnbnews
trends. Although the current price action of CAKE is nothing special, the reason for increased interest in the token seems to be the impressive performance of the DEX itself., trading volume on PancakeSwap increased by 56% during November. Consider that the Binance-affiliated decentralized exchange is the second largest in terms of turnover in the DEX segment and its size is $86.5 million per day.
Overall, the portal reports that the average monthly trading volume on DEXes increased 110% during the month. The reasons are clear and relate to the loss of trust in centralized exchanges following the collapse of FTX, a major CEX that lost customer funds as a result of botched management and subsequent insolvency. and a corresponding influx of funds and attention to all projects related to it.
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