PancakeSwap Token Price Rises 20% After Binance Partnership Announcement
CAKE token has gained over 20% after non-custodial exchange PancakeSwap announced integration with Binance mobile app.
According to CoinMarketCap, March 17 price the asset rose from $5.7 to almost $7.2, then dropped to $6.5.
According to the official announcement, a “mini version” of PancakeSwap will appear on the Binance mobile app marketplace. The integration is designed to provide users of the centralized Binance platform with access to decentralized finance.
In addition, Binance has launched its own non-custodial Web3 wallet, Binance DeFi Wallet, which will allow interoperability with PancakeSwap and other decentralized protocols.
Platform representatives claim:
“The Binance DeFi Wallet is designed to make it easier for new users to sign up and transfer funds. With the wallet, switching between Binance and DeFi is easy, no need to worry about choosing blockchains and copying the right address.”