PancakeSwap (CAKE) has had quite a week with its value jumping more than 60%. The surge comes as no surprise to those following the platform’s recent developments, particularly its new vote-escrowed CAKE system. This upgrade has transformed how users earn rewards and participate in governance across multiple blockchain networks.
The platform now distributes around 770,000 CAKE tokens weekly to stakers – worth about $1.9 million at current prices. Since launching in early 2024, this generous reward structure has prompted many holders to lock up their tokens for the long term. It’s a classic supply-and-demand effect: as more CAKE gets staked, less is available for trading, pushing prices higher.
Beyond the platform’s internal changes, CAKE has also benefited from increased trading activity and larger investors taking positions, all against the backdrop of improving crypto market sentiment. The price action suggests growing confidence in PancakeSwap’s position as a leading decentralized exchange on the BNB Chain.
CAKE Trading Volume Soars Amid Whale Activity
With daily transactions above $3 billion, PancakeSwap has seen a spike in trading activity. The coin had a 60% rise in a single day at one time, indicating the high level of market demand.
The big players seem to be taking notice too. Former PancakeSwap advisor @theveeman made headlines by moving 500,000 CAKE (worth about $1.21 million) off Binance – typically a sign that large investors see more upside ahead.
Former PancakeSwap advisor withdraws $CAKE, $TST from Binance
On-chain analyst The Data Nerd reported on X that @theveeman, a former PancakeSwap advisor and BNB whale, withdrew 500,000 CAKE ($1.21 million) and 3.88 million TST ($698,000) from Binance Exchange approximately 10…
— CoinNess Global (@CoinnessGL) February 13, 2025
The trend extends beyond individual whales, with blockchain data showing major wallets holding 10-100 million CAKE have added another 6 million tokens to their positions this week.
Huge whale buildup and record-breaking trading volume suggest that institutional interest in PancakeSwap’s ecosystem is expanding. It’s a notable shift in sentiment for one of DeFi’s most established platforms.
Read also: Why Is Mantra (OM) Price Pumping?
Positive Market Sentiment Lifts CAKE Further
The broader market environment has also contributed to CAKE’s rise. Technical indicators suggest the token was previously oversold, setting the stage for a sharp rebound.
CAKE has risen by about 157% since February 6. Moreover, taking into account PancakeSwap’s close ties to the BNB Chain, the recent 22% rise in BNB’s price has favorably influenced CAKE.
Per CoinGecko at press time, CAKE is valued at $2.59. Moreover, the token has a daily trading volume of $329 million. This signifies a 60.67% rise compared to the last week and a 1.76% rise from the day before.
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