HomeCryptoPrices and news of the crypto Pancakeswap (CAKE), Cosmos (ATOM), and Litecoin...

Prices and news of the crypto Pancakeswap (CAKE), Cosmos (ATOM), and Litecoin (LTC)

Our column on crypto asset prices and news continues, today we focus on three very important projects in the ecosystem: Pancakeswap (CAKE), Cosmos (ATOM), and Litecoin (LTC).

Prices and market statistics of Pancakeswap (CAKE), Cosmos (ATOM) and Litecoin (LTC) cryptocurrencies

Let’s start with the native token of PancakeSwap, CAKE, which currently has a price of $2.56 with a market capitalization of $668,229,906. The trading volume in the last 24 hours is $118,062,170, indicating significant market activity.

The fully diluted valuation reaches 988,638,850 US dollars, while the total value locked (TVL) stands at 1,141,034,127 US dollars. The fully diluted valuation/TVL ratio at 100% is equal to 0.87, and indicates a metric to evaluate the relative value of the token within the locked liquidity. 

The circulating supply amounts to 261,209,328 CAKE, out of a total supply of 386,456,350 CAKE, with a maximum supply limited to 750,000,000 CAKE. These data underline the economic dynamics of PancakeSwap and its positioning in the broader cryptocurrency market.

The Litecoin (LTC) is currently quoted at $73.22, with a market capitalization of $5.4 billion. The trading volume in the last 24 hours is significant, amounting to $428.3 million, although it has decreased by 8.11%. 

With a circulating supply of 74.0 million LTC, which represents 88% of the total in circulation, Litecoin maintains a substantial presence in the market. 

The average detention period is 49 days, indicating a moderate level of commitment from investors. 

The trading activity highlights a strong preference for accumulation, with 98% of LTC purchased and only 2% sold. Litecoin’s current position is 17 in terms of popularity, demonstrating its consolidated position in the cryptocurrency landscape.

Cosmos (ATOM) is currently valued at $10.86, with a market capitalization of $4.1 billion. In the last 24 hours, the trading volume has risen to $254.3 million, marking a substantial increase of 25.45%. 

The circulating supply of ATOM is 378.6 million, contributing to the significant presence of the cryptocurrency in the market. On average, investors hold Cosmos for about 202 days, indicating a tendency to engage in long-term commitments.

Trading patterns reveal a strong inclination towards accumulation, with 98% of ATOM bought and only 2% sold. 

Cosmos occupies the 20th position in terms of popularity, highlighting its recognition within the cryptocurrency ecosystem. Furthermore, Cosmos offers an interesting Annual Percentage Yield (APY) of 9.22% through its Staking feature, adding an incentive for investors to participate in the Cosmos network.

Pancakeswap reveals November 2023 burn report

PancakeSwap has presented its November burn report, revealing the burning of 0.089% of the total CAKE supply, resulting in a negative net outcome for the month. 

The PancakeSwap team burned 351,962 CAKE tokens in the month of November 2023, equivalent to approximately $880,000 at prevailing market prices. This marks the third consecutive month of reducing the total supply of CAKE, with a cumulative net loss of -712,667 CAKE in the months of September, October, and November 2023. 

Following this revelation, the market responded with a surge of almost 7% in the price of CAKE, reaching $2.5, as reported by CoinGecko.

The net burn of -351,962 CAKE in November means that more tokens were burned in the month than were minted, in line with PancakeSwap’s strategy of incorporating deflationary mechanisms to overcome inflation. 

The platform aims to create a scenario where more CAKE tokens are taken out of circulation than the amount produced, favoring deflationary pressures. With this update, CAKE now has a hard cap of 750 million tokens. 

However, developers have emphasized a cautious approach to reducing token emissions too frequently, highlighting the ongoing incentive to provide liquidity within the PancakeSwap ecosystem. 

This strategic balance underscores PancakeSwap’s commitment to promoting a sustainable and vibrant decentralized financial environment.

Litecoin will be enabled for payments and funding of Microsoft accounts

BitPay, one of the leading cryptocurrency payment services, has announced a significant improvement for Litecoin users, allowing them to seamlessly use LTC for Microsoft payments and account funding. 

This integration marks a substantial step for Litecoin, expanding its utility and adoption within mainstream platforms. The move indicates a broader trend in the cryptocurrency space, showing the growing acceptance and integration of digital assets in traditional payment ecosystems. 

As part of this development, users holding Litecoin now have the flexibility to engage with Microsoft services through BitPay, bridging the gap between the cryptocurrency industry and traditional finance.

The Litecoin team, in conjunction with this integration, has revealed a strong performance for the network in the month of November, processing over six million transactions. 

This surge in transaction activity further strengthens Litecoin’s position as a vital and active blockchain network, demonstrating its ability to handle a significant volume of transactions. 

The collaboration between BitPay, Litecoin, and Microsoft reflects the ongoing evolution in the adoption of cryptocurrencies, illustrating how established entities are recognizing the value and functionality of digital assets in everyday financial transactions.