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Why Coinbase‘s Involvement Could Elevate PancakeSwap’s DeFi Position

Why Coinbase‘s Involvement Could Elevate PancakeSwap’s DeFi Position WikiBit 2025-06-06 06:00

Coinbase, one of the biggest crypto exchanges in the U.S., has announced plans to list PancakeSwaps

  • Coinbase, one of the biggest crypto exchanges in the U.S., has announced plans to list PancakeSwaps native token, CAKE.
  • This is a game-changer for PancakeSwap, giving it a major boost in visibility and helping it take a step forward in decentralized finance.

On June 4, Coinbase revealed plans to list PancakeSwaps native token, CAKE, on its platform, a move that quickly caught the attention of the crypto community. Up to this point, CAKE had largely operated within the BNB Chain ecosystem, but the announcement marked a turning point, giving the token increased visibility and a greater sense of legitimacy, particularly among U.S. investors.

For the CAKE community, this listing is a “sign” that PancakeSwap is ready to step into a larger spotlight. With this, Coinbase gains another strong DeFi project to offer its users. And PancakeSwap now has a chance to expand beyond its base and engage with a much wider audience.

That said, Coinbase said that trading won‘t begin immediately. It will need to sort out market-making support and technical checks first. Once that’s done, they‘ll announce when trading actually starts. CAKE isn’t the only token coming. Coinbase is also listing Ethena (ENA), a synthetic dollar token built on Ethereum, and QCAD, a Canadian dollar stablecoin from Stablecorp.

Why does this matter? Well, Coinbase doesn‘t just list any token. They’ve got a vetting process, legal checks, compliance reviews, technical evaluations, and more. CAKE made the cut, meaning its passed some pretty serious tests, which is a pretty big pat on the back for the team behind PancakeSwap.

While Coinbase continues working to expand its support across various blockchain networks and token standards like Ethereum‘s ERC-20 or Solana’s SPL, only select projects that meet high standards are approved.

Recent Market Activity

Let‘s talk numbers. In 24 hours, trading activity around CAKE has surged by nearly 58%, pushing its volume up to $154 million. But here’s the twist. The price actually dropped a bit over the past week, down around 12%, now sitting at $2.42. That brings its market cap to about $780 million. Analysts are watching that. If CAKE can break past the $2.90 resistance level, we might see it rally up to around $4.30 pretty soon.

PancakeSwap‘s ecosystem is live. DefiLama shows us that it has a total value locked (TVL) of $1.311 billion and $18.53 million worth of CAKE available in liquidity pools. And the daily DEX volume? That’s hit a whopping $1.7 billion in just the past 24 hours. Sure, the price of CAKE might be bouncing around a bit lately, but these numbers really show that people are still very much using the platform.

PancakeSwap is getting an extra boost thanks to a new partnership with the Trump-backed World Liberty Financial (WLFI) crypto project, BNB Chain, and BUILDon. They have launched a $1 million incentive campaign for promoting the adoption of USD1. The program will run from June 4 to July 4.

????☝️Lets supercharge DeFi together!

WLFI is co-sponsoring with @BUILDonBsc_AI, @PancakeSwap & @four_meme_ for the USD1 x BNB Chain Liquidity Drive.

???? Up to $1M in rewards, a 4-week trading campaign, and exclusive support for the top trading pools & meme projects. Also…

— WLFI (@worldlibertyfi) June 2, 2025

It will encourage more users to explore and use USD1 on the BNB Chain. Why is this meaningful?. For PancakeSwap, its a step in enhancing its presence in the DeFi space, this time by helping bring a politically charged stablecoin into the light through rewards and community engagement.

Disclaimer:

The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.

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