Here are the latest news and performance of the three crypto projects Casper (CSPR), Cardano (ADA) and PancakeSwap (CAKE).
Summary
Crypto news and price performance of Casper (CSPR)
The 69th crypto by market cap, Casper (CSPR), has seen a decrease in price over the past 3 days.
In fact, from a price of $0.062 on Friday the 5th, CSPR has since seen a dump that brought it to a price of $0.053 at the time of writing.
The Casper Network is a proof-of-stake, layer 1 blockchain developed by Casper Labs, which provides solutions and applications for its corporate customers. The main network was launched on 31 March 2021 after two years of testing and continues to focus on security and scalability, which still limit the development of enterprise solutions.
CSPR’s negative share price performance last weekend comes shortly after the platform announced it was working on an artificial intelligence-based project: CSPR.AI.
https://twitter.com/CasperlabsCoin/status/1654540901358739456
Perhaps it is just coincidence, but the response from investors seems to have been less than positive.
Cardano (ADA): price action and crypto news
Turning to Cardano (ADA), the seventh largest crypto by market cap seems to have suffered a price dump over the weekend.
Indeed, from almost $0.40 on Saturday, ADA’s price has plummeted between yesterday and today to $0.36 at the time of writing.
In fact, there was no real news on Cardano that could have affected its price performance.
On the contrary, looking at the charts of Bitcoin (BTC) and Ethereum (ETH), ADA seems to have followed the general trend of the major cryptos.
On the other hand, Cardano’s ‘third generation’ blockchain continues to pursue its goal of providing developers with a highly scalable and energy-efficient open-source smart contract platform.
These price dumps also affected Cardano’s signature DeFi business, which saw its TVL (total value locked) fall to $144 million from $155 million at the beginning of the month.
PancakeSwap (CAKE) crypto price and news
Finally, the DEX crypto of PancakeSwap (CAKE) also saw a price dump over the weekend. CAKE fell from $2.53 on Friday to $1.93 today.
Nevertheless, the decentralised crypto exchange based on the Binance Smart Chain (or BSC) participated in the excitement of the moment for PEPE’s Memecoin.
As far as the DeFi market is concerned, PancakeSwap has not yet managed to surpass Uniswap’s TVL, in fact it seems to be only halfway there.
At the time of writing, PancakeSwap’s TVL is $2.13 billion compared to Uniswap’s TVL of $4.08 billion.
In March last year, the two DEXs had a TVL difference of only $1 billion, but Uniswap seems to have made faster progress.
Casper (CSPR), Cardano (ADA) and PancakeSwap (CAKE): price trends over the past month
This past weekend seems to have marked a negative trend for most cryptos, starting with Bitcoin (BTC) and Ethereum (ETH) and the three just analysed, Casper (CSPR), Cardano (ADA) and PancakeSwap (CAKE).
However, looking at the price chart for the last month, the patterns are quite different, especially for the three cryptos.
In fact, while CAKE is highlighting its dump, ADA is drawing a jagged mountain and CSPR is drawing a total price pump.
Basically, this is what happened last month:
- CAKE went from $3.66 to $1.93;
- ADA went from $0.39 to $0.36 (peaking at $0.45);
- CSPR went from $0.042 to $0.053, also touching $0.06 during the month.
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