HomeCryptoPancakeSwap (CAKE) and Polkadot (DOT) crypto prices and news

PancakeSwap (CAKE) and Polkadot (DOT) crypto prices and news

Returning again to our column dedicated to prices and news from the crypto world, we continue our analysis with two very important assets for the community, PancakeSwap (CAKE) and Polkadot (DOT). 

Prices and market statistics of the crypto assets PancakeSwap (CAKE) and Polkadot (DOT)

Let’s start with CAKE itself: the current price of PancakeSwap (CAKE) is $1.29, with a market capitalization of approximately $268.5 million. 

During the past 24 hours, a trading volume of about $14.5 million has been recorded. The amount of CAKE in circulation is about 208.6 million. 

The all-time high reached by CAKE was $44.18, far from the current price. Over the past hour, there has been a negative price change of -0.11%, while over the past 24 hours, the price has decreased by -0.73%. 

Over the past 7 days, the price has had a slight positive change of +0.01%, but not enough to be considered a true price increase.

Currently, the price of Polkadot (DOT) is $4.49, with a market capitalization of about $5.5 billion. 

Over the past 24 hours, a trading volume of about $95.2 million has been recorded. The amount of DOT in circulation amounted to 1.2 billion. The average holding time of DOT is about 95 days, reflecting the tendency of investors to hold this cryptocurrency in the medium term. 

In terms of popularity, Polkadot is ranked ninth and the all-time high reached by DOT was $55.00. 

Over the past 24-hour period, the price has decreased by -2.3% and over the past 7 days, the price has seen a modest positive change of +0.11%. 

Following are the news stories that influenced the price trends of these two crypto assets.

PancakeSwap v3 is available on the mainnet Linea

On 24 August, PancakeSwap, the decentralized finance (DeFi) protocol known in the cryptocurrency landscape, made a significant announcement regarding the expansion of its version 3 (v3) on the Linea mainnet, an emerging blockchain network. 

In an official statement, the PancakeSwap team enthusiastically stated: 

“We are pleased to announce that PancakeSwap v3 has been officially launched on the Linea Mainnet, following our success as a testnet ecosystem partner. This important event marks a new era for Multichain DeFi as we bring powerful features and enhanced functionality to our vibrant community.”

The expansion to Linea Mainnet promises to bring significant improvements to the overall user experience. 

The team emphasized that this collaboration will offer tangible benefits, including lower transaction costs, higher returns for those providing liquidity to the platform, and greater efficiency in capital utilization.

PancakeSwap has established itself as a major player in decentralized finance, with a growing user base and a vibrant community of supporters. 

The expansion onto Linea’s mainnet represents a significant step in pursuing the goal of offering innovative and affordable solutions in cryptocurrency and DeFi.

This evolution underscores the importance of interoperability and collaboration between different blockchain networks to provide advanced services and functionality to users. 

The announcement reflects PancakeSwap’s focus on the adoption of cutting-edge technologies to further enhance exchange and investment opportunities within the cryptocurrency ecosystem.

Dega and Unique Network’s important collaboration within Polkadot

The collaboration between DEGA and Unique Network within the Polkadot ecosystem marks a significant advancement in the field of blockchain technology. 

This strategic partnership is intended to empower builders and creators by leveraging the potential of DEGA’s Initial Stake Pool Offering (ISPO) within the Unique ecosystem. 

Unique Network, a component of the Polkadot network, has emerged as a formidable force in the blockchain landscape, attracting a flood of developers and innovators eager to contribute to its expanding ecosystem. 

Thanks to its technological prowess, Unique Network has attracted the attention of numerous projects, developers and users, underscoring its influence in the industry.

In particular, the distinguishing feature of DEGA’s ISPO lies in its approach to reward distribution. Unlike conventional stake pools that reward delegators, DEGA’s model directs rewards to the platform itself, facilitating the development and operation of projects. 

This new approach ensures the sustainability of the ecosystem by focusing on development-oriented initiatives.

The timing of the announcement of this partnership is significant because it precedes the Polkadot Developer Conference, sub0, scheduled for the next three weeks. 

This event serves as a platform for Web3 innovators and visionary developers to come together, exchange insights, collaborate on pioneering concepts, and collectively anticipate and adapt to emerging trends.

By expanding developers’ capabilities and fostering an environment conducive to innovation, this partnership creates a remarkable growth path in the Web3 landscape. 

As noted in a statement from Unique Network, this collaboration represents a leap forward in redefining how blockchain ecosystems can thrive through collaborative, developer-centric approaches. 

As Polkadot continues to position itself as a technology powerhouse, partnerships like these underscore its commitment to shaping the future of blockchain technology and fostering a dynamic and sustainable ecosystem.