Coinbase Adds PancakeSwap (CAKE) to Listing Roadmap

Coinbase, one of the top cryptocurrency exchanges, has recently announced the addition of PancakeSwap (CAKE) to its listing roadmap. This move allows Coinbase customers the potential opportunity to trade CAKE, the native asset of PancakeSwap, a decentralized exchange originally built on the BNB Chain.

PancakeSwap Dominates DEX Trading Volume

PancakeSwap has seen significant growth and expansion across multiple blockchains, making it a leader in decentralized exchange trading volume. In the past 30 days alone, PancakeSwap recorded a trading volume of $228.03 billion, surpassing competitors like Uniswap (UNI) with $95.706 billion, according to DeFi Llama. The DEX also achieved a monthly trading volume record of $173 billion in May.

Market Response to Roadmap Addition

Despite the announcement of being added to Coinbase’s listing roadmap, the price of CAKE has not seen a significant boost. Currently trading at $2.25, the 116th-ranked cryptocurrency has experienced a 7% decrease in the past 24 hours and an 11% decrease in the past seven days.

Coinbase’s Commitment to Listing Crypto Assets

Being included in Coinbase’s listing roadmap indicates that the exchange is considering adding trading support for CAKE in the near future. Coinbase CEO Brian Armstrong has expressed the company’s goal of listing a wide range of crypto assets that meet their standards. The listing roadmap, introduced in 2022, aims to enhance transparency and prevent investors from front-running new trading support announcements.

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