• Wed. Jun 7th, 2023

Traders Return to DeFi Rallying PancakeSwap (CAKE), Celsius (CEL), and 1inch

Apr 11, 2021

Ever since Bitcoin (BTC) hit the $61k mark and went down, there is a lot of confusion surrounding the nature of the currency. Half the analysts are speculating that the price of Bitcoin (BTC) may experience another price correctly. While the other half are speculating that Bitcoin (BTC) is set to go all the way up again and hit all-time highs.

The analysts are currently seen sharing and making mixed speculations/predictions around Bitcoin (BTC). Therefore, it is too difficult to tell whether Bitcoin (BTC) is going to go up or go down.

According to majority of the analysts, the price of Bitcoin (BTC) tends to break out between 300 and 350 days. This phenomenon occurs when halving of the Bitcoin (BTC) takes place and this information is also confirmed by one of the analytical firms “Ecoinometrics”.

The analysts are discussing that by now, 331 days have passed since the last halving took place. If the trend continues to take place, then the price of Bitcoin (BTC) would experience another break out.

However, as the situation for Bitcoin (BTC) is still a fifty-fifty scenario, many investors have started moving back to altcoins. Some of the major altcoins that are currently experiencing a surge and rally with respect to adoption and price are 1INCH, CEL, and CAKE.

The first asset is 1INCH that has experienced 84% growth in the last 15 days. According to stats, the price 1INCH token was at $3.56 back on March 25. At the time of writing, the price of 1INCH is now sitting at $6.56 per token.

The firm has also revealed that in terms of trading volume, it is currently observing a trading volume of $30 billion.

Then the second asset is Celsius (CEL) that has gained a lot of rally and adoption in a matter of 7 days. On April 2, 2021, the price of CEL was at $4.70 and then its prices surged by 64%. At the time of writing, the price of CEL is hovering around $7.71 per token. According to the stats, in the past 7 days, the price of CEL went all the way up to $8.47 before coming down to $7.71 per token.

Then there is PancakeSwap (CAKE) that has also turned out to be one of the most rallied and invested decentralized finance (DeFi) in the recent days. According to stats, back on March 21, the price of CAKE was at $9.68 per token. At the time of writing, the price of CAKE is at $21.25 per token, which is a 119% increase in price since 21st of March.

Although the entire decentralized finance (DeFi) industry is experiencing all-time highs. But these three altcoins are currently experiencing the best time.

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