- PanCakeSwap is announced Its latest proposal to adjust Farm Rewards.
- While some metrics suggested a CAKE price surge, others were bearish.
On January 5, PancakeSwap [CAKE] The latest update from the crypto community on the proposed adjustments to Farm Rewards. These adjustments don’t reduce CAKE rewards for farms. Therefore, the per-block allocation of Farms and Lottery to Farms and Lottery will continue at 2.01 CAKE/block.
✨Vote to get a free ticket✨
You can vote on a new farm reward adjustment proposal. This proposal aims to redirect farm rewards to high-value, high-performing farms. It will give us more potential to bring new farms into the fold.
👉 Vote now: https://t.co/wXEhXyXsNj pic.twitter.com/KiR9XgQaWw
— PancakeSwap 🥞 #Multichain (@PancakeSwap) January 5, 2023
CAKE’s contribution to APR will remain the same. This round has one key difference: CAKE farms such as CAKE–BNB have a flexible APR at 19% and a boosted AtPR of 37%.
How many For $1, you can buy CAKES?
CAKE Also, PancakeSwap was also recognized in a dataset that was released on 31 December. It was found on the BNB Chain’s list of top 10 TVL because it accounted to over half of the total TVL. ALPACA and XVS occupied the second and third places on the same list.
TOP 10 #TVL ON #BNB SMART CHAIN$CAKE $XVS $ALPACA $BSW $COW #PINKSALE $WOM $UNCX $DX $ANKR pic.twitter.com/pQmuYPusm4
— PHOENIX 🇺🇦 (@pnxgrp) December 31, 2022
PancakeSwap was affected?
CAKE’s price responded positively, as its weekly chart was painted green, unlike several other cryptos. According to CoinMarketCap, CAKE’s price increased by nearly 3% over the last seven days, and at the time of writing, it was valued at $3.26 with a market capitalization of more than $530 million.
A few of the metrics revealed what went in CAKE’s favor and helped the token increase its price during the last few days. CAKE’s MVRV Ratio registered a sharp uptick, which was a signal in the buyers’ favor.
CAKE’s popularity has also increased lately as its social volume has gone up. CAKE was ranked third on The list There were some cryptos on BNB Chain that could be used for social activity, but this was just a few days back.
A concerning metric was that CAKE’s velocity did not register an uptick over the last week, which might be troublesome.
Read PancakeSwap’s [CAKE] Price Prediction 2023-24
Concerns still persist
Both the market indicators and the metrics suggested otherwise. CAKE’s Exponential Moving Average (EMA) Ribbon revealed a massive bearish advantage in the market as the 20-day EMA was resting way below the 55-day EMA.
The Relative Strength Index, (RSI), remained below its neutral mark. This was also bearish. CAKE’s Chaikin Money Flow (CMF) registered a downtick and was heading toward a neutral position, which might restrict CAKE’s current uptrend.