- Coinbase, one of the largest crypto exchanges in the US, has announced plans to mention pancakakeswap’s native token, cake from pancakeswap.
- This is a game changer for pancake wap, giving it a large boost in visibility and it helps to take a step forward in decentralized finances.
On June 4, Coinbase unveiled plans to sum up the native token of pancakeswap, cake, on his platform, a movement that quickly attracted the attention of the crypto community. Until now, cake had largely been operated on the BNB chain ecosystem, but the announcement marked a turning point, giving token an increased visibility and a greater sense of legitimacy, especially among American investors.
For the cake community, this mention is a “sign” that pancake wap is ready to get into a larger spotlight. This gives Coinbase another strong Defi project to offer its users. And Pancake Wap now has the chance to go beyond his basis and to deal with a much wider audience.
That said, Coinbase said that trade will not start immediately. It will first have to select market support and technical checks. Once that has happened, they will announce when the trade actually starts. Cake is not the only thing that comes. Coinbase also mentions Ethena (ENA), a synthetic dollar token built on Ethereum, and Qcad, a Canadian dollar stablecoin from Stablecorp.
Why does this matter? Well, Coinbase not just mentions a token. They have a control process, legal checks, compliance assessments, technical evaluations and more. Cake made the cut, which means that it has passed some pretty serious tests, which is a pretty large pat on the back for the team behind pancake swap.
While Coinbase continues to work on expanding its support in various blockchain networks and token standards such as Ethereum’s ERC-20 or SLAs, only selected projects that meet high standards are approved.
Recent market activity
Let’s talk about numbers. In 24 hours the trade activity around the cake has risen by almost 58%, which pushes the volume to $ 154 million. But here is the turn. The price actually fell a bit last week, with around 12%, now at $ 2.42. That brings its market capitalization to around $ 780 million. Analysts look there. If cake can break past the $ 2.90 resistance level, we may see it soon to around $ 4.30.
The Pancakeswap ecosystem is live. Defilama shows us that it has locked a total value (TVL) of $ 1.311 billion and $ 18.53 million in cake available in liquidity pools. And the daily Dex volume? That is no less than $ 1.7 billion in the last 24 hours. Of course, the price of Cake might bounce around a bit, but these figures really show that people still use the platform very much.
Pancakeswap gets an extra boost thanks to a new partnership with the Trump-stunned World Liberty Financial (WLFI) Crypto project, BNB Chain and Buildon. They have launched a $ 1 million incentive campaign to promote the acceptance of USD1. The program runs from 4 June to 4 July.
🦅☝️ Let’s Super Charge Defi together!
WLFI is a co-sponsor with @buildonbsc_ai, @pancakeswap & @four_meme_ for the USD1 x BNB Chain Liquuidity Drive.
🤑 Up to $ 1 million in rewards, a trade campaign of 4 weeks and exclusive support for the Tophandelpools & Meme projects. Also…
– WLFI (@worldlibertytyfi) 2 June 2025
It will encourage more users to explore and use USD1 on the BNB chain. Why is this useful?. For pancake wap it is a step in improving his presence in the Defi space, this time by helping to bring a politically charged stablecoin to light through rewards and community involvement.