PancakeSwap is down 50% in a month. Will Avorak launch bring focus to CAKE again?
PancakeSwap (CAKE) news has been constant since 2023. Despite CAKE being down by 50%, crypto watchers suggest that the forthcoming Avorak launch could see PancakeSwap come to the limelight again.
PancakeSwap is a popular decentralized exchange (DEX) app built on the BNB Smart Chain. It offers users a fast and low-cost way to trade cryptocurrencies, provide liquidity, and earn rewards. The app uses an automated market maker (AMM) system, where trades are executed against liquidity pools rather than order books. Users can add liquidity to these pools by depositing pairs of tokens and earn a portion of the trading fees generated by the pool. PancakeSwap’s native token, CAKE, is used for governance and incentivizing liquidity provision and staking. PancakeSwap has become a popular DEX due to its ease of use, low fees, and various earning opportunities.
PancakeSwap (CAKE) has experienced significant volatility in the past month, declining by around 50%. As the price of CAKE currently hovers within a critical range, market participants are eagerly speculating on whether it will experience a breakout or a breakdown. However, analyses suggest that the upcoming launch of Avorak AI may help to bring renewed attention to PancakeSwap, potentially increasing CAKE’s price.
What is Avorak (AVRK)?
Avorak is an AI platform built on the BNB smart Chain. The platform is the first to offer a comprehensive AI solution that can be used across all industries through the blockchain.
Avorak’s interactive AI will include solutions like trading bots, chatbots, image generators, security monitors, and a lot more. Avorak’s solutions have first-to-market enhancements that ensure efficiency and ease of use. The Avorak AI trading bot, for example, doesn’t require code inputs. Instead, the bot uses a command-line input programmed with a simple, standard script, for example: “In my OKX futures account, when ETH reaches $2190, sell 5ETH.” Avorak’s trading bot can automate trades on different assets in various trading platforms. The Avorak Trade bot also provides price predictions, and indicators, and includes notification systems to alert users of changes in trends and patterns.
The Avorak project is in its initial coin offering (ICO) phases, offering those who believe in its potential a chance to get its AVRK token at discounted prices. AVRK will be used to access the Avorak platform and pay for its AI services. AVRK holders also get a share of Avorak’s profits through the revenue feedback system. AVRK can be staked or traded on various exchanges. PancakeSwap is the first confirmed DEX that will allow for incentivized liquidity provision with AVRK once Avorak AI is launched.
Several analysts suggest that AVRK could surge significantly when released to the open market, and PancakeSwap (CAKE) could witness an uptick as a result.
For more information on Avorak AI and its ICO:
Buy AVRK: https://invest.avorak.ai/register
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