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Tag: PancakeSwap

  • PancakeSwap, YZi Labs Launch Zero-Fee Prediction Market on BNB Chain

    A new zero-fee prediction market, Probable, is coming to BNB Chain with support from PancakeSwap and YZi Labs

    A new prediction market platform called Probable is set to launch on the BNB Chain.

    Decentralized exchange leader PancakeSwap and venture studio YZi Labs, who are co-incubating the initiative, announced the project on social media today.

    A Frictionless Forecast Platform

    According to the announcement posts, Probable is looking to distinguish itself in the prediction market space with a commitment to simplicity and cost structure, and will operate with zero prediction fees from its first day.

    “Probable delivers true zero-fee predictions,” the team wrote in a Medium post. “No platform fees, no hidden charges.”

    It plans to support wagers on cryptocurrency price movements, global events, sports, and niche regional occurrences, settling all markets fully on-chain for transparency.

    To operate, users can deposit various assets, which the system will automatically convert to USDT for placing forecasts.

    “We believe prediction markets should be simple, transparent, and open to everyone,” stated the team on X. “Probable is built to make on-chain predictions faster, easier, and more accessible.”

    The new platform will depend on UMA’s Optimistic Oracle for verifying real-world event outcomes, a system designed to provide tamper-resistant results. PancakeSwap’s involvement provides immediate visibility and credibility, connecting the new service to its large user base.

    BNB Chain founder Changpeng “CZ” Zhao acknowledged the launch, as he commented on the growing number of prediction markets on the network.

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    The Growing Race to Predict the Future

    Probable is the latest entrant in a sector that is attracting substantial attention and capital. The space has seen notable developments in recent months, pointing to increased mainstream and institutional interest. Earlier in the year, Kalshi, one of the more well-known platforms, secured $185 million in funding led by Paradigm, which pushed its valuation to $2 billion.

    More recently, the Intercontinental Exchange (ICE), which owns the New York Stock Exchange, announced an investment of up to $2 billion in the decentralized platform Polymarket, alongside serving as the global distributor of its event-driven data.

    Additionally, in late October, Trump Media’s Truth Social and Crypto.com revealed plans to bring prediction markets to a social media audience, demonstrating the widening appeal of the concept. At the time, Crypto.com co-founder and CEO Kris Marszalek forecasted that prediction markets had the potential to become “a multi-deca-billion dollar industry.”

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  • Uniswap Reclaims Crown Amid DEX Market Volatility and PancakeSwap Decline

    After a turbulent few months in the decentralized exchange (DEX) space, Uniswap has managed to reclaim its position as the market leader in what appears to be a strong comeback in August 2025.

    The platform recorded a trading volume of $111.8 billion, up 28.3% month-on-month, representing the second time this year it has surpassed the $100 billion mark.

    Uniswap Strikes Back

    According to the latest report shared by CoinGecko, this resurgence allowed Uniswap to recover from its June low, when its market share had fallen to 19.4%, overtaken by PancakeSwap amid the latter’s surge driven by the Binance Alpha 2.0 launch. The rewards program boosted PancakeSwap’s activity, which helped it achieve record daily trading volumes of around $5 billion and a peak market share of 64.5% in June.

    However, August told a different story as PancakeSwap’s trading volume plummeted to $92.0 billion. This was a sharp 44.7% decline from July, which reduced its market share to 29.5% and allowed Uniswap to retake the top spot.

    Aerodrome secured its position as the third-largest DEX in August while capturing 7.4% market share. It recorded almost $23 billion in trading volume, which marks a 28% month-on-month increase. The remaining top 10 decentralized exchanges collectively accounted for 27.3% of the market.

    Meanwhile, the DEX ecosystem continues to evolve rapidly, with newcomers like Hyperliquid making notable gains. Hyperliquid’s August volume surged 129.3% month-on-month to $21.4 billion, pushing its market share to 6.9% and elevating it to the fourth-largest DEX. In the process, it surpassed several Solana-based platforms.

    While still far behind Uniswap and PancakeSwap, Hyperliquid’s rise evidences the increasingly competitive nature of the DEX sector.

    UNI’s Volatile Trajectory

    Uniswap strengthened its market dominance, but the same can’t be said for its governance token, UNI, which experienced significant volatility over the past month, forming a local top above $12 in mid-August before suffering back-to-back corrections.

    The token showed strong upward momentum through August but has faced selling pressure in recent weeks, with the price consolidating in the $9-10 range through early September.

    Despite the turbulence, Bitwise CIO Matt Hougan noted that UNI at $6 billion is modest by global standards, and compared it to Storebrand, which happens to be a mid-sized Norwegian insurance firm. He added that despite its DeFi prominence, its valuation remains relatively small in the broader financial landscape.

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  • PancakeSwap to Distribute 2.45M ZK (zkSync) Tokens to Thank Community

    PancakeSwap to Distribute 2.45M ZK (zkSync) Tokens to Thank Community

    Popular multi-chain DEX, PancakeSwap has announced a major community reward program from July 5 to August 5.

    As part of this initiative, PancakeSwap will distribute over 2.45 million zkSync (ZK) tokens to its community members in appreciation of their support for the zkSync PancakeSwap deployment since July 2023. The airdrop in question aims to reward not just longstanding contributors but also newcomers who engage actively with PancakeSwap.

    According to the official blog post, veCAKE holders and past contributors can participate in the airdrop. Eligible users need to connect their wallet to the PancakeSwap platform homepage and follow the pop-up notification guide to claim the ZK tokens.

    Meanwhile, unclaimed tokens will be reallocated to the PancakeSwap ecosystem for any upcoming development and community projects.

    The exchange’s team said that it had made significant progress since first going live on zkSync Era, an Ethereum layer-2 network last summer. During this period, the DEX implemented crucial features such as seamless Swaps, Yield Farming, Prediction Markets, Fiat On-Ramp, Position Manager, and Syrup Pools.

    These efforts have helped it surpass $3 billion in trading volume, many millions in total value locked  (TVL), and over 1.9 million total traders.

    “At PancakeSwap, we are committed to fostering a thriving community and rewarding our users for their dedication to our platform. The ZK token airdrop exemplifies our appreciation for the support and engagement of our community members. We invite you to participate actively in this opportunity to benefit from the airdrop and continue shaping the future of DeFi with PancakeSwap.”

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  • PanCakeSwap Soars 50% After 10 Million Tokens Burned – Details

    PanCakeSwap Soars 50% After 10 Million Tokens Burned – Details

    The recent increase in value of PancakeSwap has captured the attention of the cryptocurrency community, as its token, CAKE, witnessed an extraordinary 54% surge in just the past seven days.

    With a robust market capitalization of nearly $900 million and an impressive fully diluted valuation of $1.3 billion, PancakeSwap has solidified its position as a significant player in the decentralized finance (DeFi) space.

    Strategic Token Burn Propels PanCakeSwap Ascendancy

    One of the key strategies contributing to PancakeSwap’s success lies in its proactive approach to managing token supply.

    In a strategic move to boost scarcity and create a more attractive investment proposition, PancakeSwap executed a token burn, incinerating more than 10 million CAKE tokens, valued at approximately $34 million, on December 26.

    This deliberate reduction in the total supply by 40% has not only impressed investors but also earned PancakeSwap the endearing title of “everyone’s favorite DEX” (Decentralized Exchange).

    Despite prevailing market consolidation, the CAKE token has managed to defy the odds, maintaining a price above $2.1 and extending its recovery trend. Within just one week, the coin’s price soared to the current trading value of $3.37, breaking decisively from a falling wedge pattern.

    This latest burn has resulted in a notable reduction in the circulating supply of CAKE tokens, decreasing from 275 million to 265 million. Consequently, this development propelled the CAKE price by 18%, pushing its market cap to $894 million.

    CAKE market cap currently at $896.764 million. Chart: TradingView.com

    Crypto burns play a pivotal role in the digital assets sector by reducing asset supply, thereby creating heightened demand and boosting the value and prices of cryptocurrencies.

    Although a proposal to cap the maximum supply at 450 million was previously made by the network to recover losses suffered by CAKE crypto, it is yet to be implemented. Meanwhile, the team will continue with substantial burns to support price movement until an alternative decision is reached.

    Weekly Token Burns Signal PanCakeSwap’s Commitment

    The PancakeSwap team has further disclosed their intention to continue these token burns on a weekly basis, demonstrating a commitment to this approach until a decision is made to alter it.

    This diminishing supply, coupled with the optimistic technical outlook, is anticipated to sustain a robust recovery trend in CAKE price.

    CAKE seven-day price action. Source: Coingecko

    Meanwhile, the coin’s 24-hour trade volume increased by 37% to $284 million, with one-month gains exceeding 50%. Moreover, the token reached a new 30-day peak of $3.65 on Tuesday.

    As of the latest update, CAKE maintains a bullish stance, registering a 27% increase in the previous day’s trading and gaining over 6% within one hour of the most recent token burn.

    The altcoin has also garnered increased crowd interest, with daily volume soaring by 75% to $330 million, although it remains 90% down from its April 2021 all-time high of $44.20.

    Featured image from Shutterstock

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

    Christian Encila

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  • Decentralized Exchanges Bounce Back: $29 Billion Traded in November

    Decentralized Exchanges Bounce Back: $29 Billion Traded in November

    The recent surge in cryptocurrency markets over the last month seems to have spilled over into the realm of decentralized finance (DeFi).

    The trading volume on decentralized exchanges (DEX) has traditionally been considerably lower than that of centralized exchanges (CEX). However, the recent market rally has led to increased activity, albeit at a somewhat slower pace.

    DEX Trading Volume Picks Up Pace

    According to research from Kaiko, major platforms such as Uniswap and Curve on the Ethereum blockchain, as well as Pancakeswap on the Binance Smart Chain, have noted a surge in activity.

    In November, the monthly trade volume on DEXs rebounded to $29 billion, recovering from a multi-year low experienced in September. Despite this improvement, it still falls significantly short of the all-time high of over $124 billion recorded in May 2021. The market share of DEX trade volume compared to CEX has also declined over the past year, dropping to just 3% in November, down from 5% in January.

    Notably, in November 2020, during the peak of DeFi excitement, DEXs achieved an all-time high market share of 10%. This indicates that DEXs were more affected by the low market participation observed since the collapse of FTX.

    While the largest DEX, Uniswap, has seen a reduction in its market share relative to Coinbase, it still holds a significant position at 40%.

    The upswing in DEX activity is also evident in elevated lending rates. Increased lending rates, particularly for stablecoins, indicate a rise in the number of loans taken out, often for trading purposes.

    DEX Trading Volume Till Q3

    The signs of recovery observed in the later part of Q1 lost momentum as trading volumes did not sustain the upward trend in Q2. The pressure from regulators particularly impacted centralized cryptocurrency exchanges, making them the primary losers.

    However, the resulting turbulent market conditions also affected decentralized exchanges. In Q2, the spot trading volume on the top 10 decentralized exchanges (DEX) amounted to $155 billion, marking a decrease of over 30% from Q1.

    The total spot trading volume on the leading 10 decentralized exchanges reached $105 billion in Q3 of 2023, marking a decline of -31.2% compared to the previous quarter.

    During the third quarter, CoinGecko said THORchain experienced the most significant growth, with its volume increasing by 113%, equivalent to $1.27 billion. This surge in volume, however, may be partly attributed to illicit transfers occurring on the network involving notable users such as the FTX hacker and the North Korean Lazarus group.

    Contrastingly, Sushi, a longstanding presence on DEXs since its establishment in 2020, fell out of the top 10 during the period and was replaced by Orca.

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