• PancakeSwap [CAKE] has been steadily improving its network performance in 2021.
• The announcement of the launch of PancakeSwap v3 in April 2023 was made, with a host of new features, such as NFTs and VIP programs.
• Whale interest in CAKE has increased, with it becoming one of the top 10 tokens by trading volume among the top 100 biggest BSC whales.
PancakeSwap Improving Network Performance
PancakeSwap [CAKE] has been setting up its game in terms of network performance over the last few months. Dune’s data revealed that the total number of transactions on PancakeSwap has been on an uptrend since the beginning of this year, after a disappointing Q4 2022. This increase represents increased adoption and usage of the network.
Launch Of PancakeSwap V3
PancakeSwap announced its v3 will launch in April 2023 with several new features, such as new NFT and VIP programs. The timeline for the launch seemed to be in check, as at the end of January, CAKE revealed that release will happen during the end of Q1 2023.
Whale Interest In CAKE Increasing
Whale interest in CAKE has increased recently as it became one of the top 10 tokens by trading volume among the top 100 biggest BSC whales according to Dune’s data. Moreover, Santiment’s chart also pointed out a similar happening as whale transaction counts spiked on 2 March. Not only whales, but PancakeSwap topped the listof DeFi projects by Twitter audience in last 30 days reflecting its immense popularity too.
NFT Space Not On Par
The NFT space performance however is not on par with other activities related to CAKE due to declining NFT marketplace volume and number users lately.
Overall, despite some hiccups along the way due to declining performances from NFT space, overall activities related to CAKE have shown bullish trend thanks to increasing whale interests and ever-increasing network performance which is expected to further improve once v3 launches very soon this April 2023 .