Binance Labs invest investing is when you put money in a financial scheme with the intent of making a gain. in DEX (decentralized exchange)A peer-to-peer exchange allowing users to trade cryptocurrency without the need for an intermediary. PancakeSwap y CAKE sube cases a 10%.
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- Binance Labs invests in CAKE token a digital unit designed with utility in mind, providing access and use of a larger crypto economic system.
- CAKE rose 9.62% following the news.
- PancakeSwap has become BNB Chain’s largest dApp.
Binance Labs the venture capital capital is most commonly defined as the large sum of money you would use to invest. arm of the exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. Binance announced today that it has made a strategic investment in the utility and governance in the world of cryptocurrencies, governance is defined as the people or organizations that have decision-making powers regarding the project. token of PancakeSwap: .
PancakeSwap is a decentralized decentralization refers to the property of a system in which nodes or actors work in concert in a distributed fashion to achieve a common goal. exchange (DEX) based on BNB Chain . La inversión de Binance Labs is part of his mission to, as he says, “facilitate the next wave of global blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. adoption by providing technology development, marketing and community support, and enterprise solutions for Web3 transformation.”
Launched in September 2020, PancakeSwap has become the dApp decentralized application, digital application that runs on a blockchain network and does not rely on a single computer. DApps are free from the control and interference of a central authority. largest in BNB Chain with more than 400,000 daily active users. In fact, in April 2021, not only beat exchanges of its kind, but also outperformed centralized a centralized organizational structure is one in which a single node or a small number of them are in control of an entire network. exchanges such as Kraken in commercial volume.
Bill Qian, leader of Binance Labs, said in a press release: “PancakeSwap has been leading the development and mass adoption of BNB Chain. Given that PancakeSwap is the most widely used dApp and the DeFi a movement encouraging alternatives to traditional, centralized forms of financial services. project with the highest TVL in BNB Chain, we have and will continue to provide strong support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. for the project.”
With over 1300 active dApps in multiple categories, such as DeFi, Metaverse, blockchain games, NFT non-fungible tokens (NFTs) are cryptocurrencies that do not possess the property of fungibility. and more, BNB Chain has processed more than 3 billion transactions from 163 million unique addresses since its launch in 2020, the company reports.
Price increase
Following the news, the price of Cake had an increase of 9.62% compared to yesterday at the same time, according to the data of CryptoMarkets , . However, it is still far from its highest price, which it achieved on April 30, 2021, when it reached USD $44.07. Today it is 89% below that price. Those who bought on January 1st of this year still have losses of 59%.
Sources: Binance , Coindesk, CryptoMarkets , archivo
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