Last week, the cryptocurrency market had a range of results. Bitcoin (BTC) failed to break above $90,000, and Ethereum (ETH) stayed in a technical bear market. The crypto fear and greed measure stayed in the fear zone, showing investors are still unsure of what to do. But some altcoins made big changes that make them interesting to watch this week. PancakeSwap (CAKE), EOS (soon to be Vaulta), and Pi Network (PI) are three of these cryptocurrencies that are getting a lot of attention because of recent changes and price swings.
PancakeSwap (CAKE): Meme Coin Wave
The price of PancakeSwap (CAKE); the most important decentralized exchange (DEX) on the BNB Chain, went through a huge jump last week, rising 105% to a high of $2.82. With this price hike, PancakeSwap reclaimed its title as the largest DEX by volume, beating out rivals like Uniswap and Raydium. Following the release of meme coins like Mubarak and Brocolli on the BNB Chain, the platform’s weekly trade volume increased by 60% to $14.8 billion.
EOS (Vaulta): A Big Rebranding Operation Is Underway
Last week, the price of EOS went up 55%, reaching $0.6676. The news that EOS would change its name to Vaulta sparked this rally. The goal is to make EOS a blockchain banking giant. In April, the new Vaulta token will take the place of EOS. It will use the same blockchain technology as EOS and include exSat’s Bitcoin banking solutions.
Pi Network (PI): Token Unlocking Challenges
Pi Network (PI) has been having a hard time lately. Its price has dropped from an all-time high of almost $3 to a key support level of $1. The price drop is mostly because Binance, Coinbase, Kraken, and Upbit haven’t listed it on big exchanges, making investors nervous. Also, a big event to open tokens will give away 188 million new PI tokens this month. Over 1.6 billion more will be released over the next 12 months.
Conclusion
The cryptocurrency market is volatile. You should keep a close eye on three altcoins: PancakeSwap, EOS (Vaulta), and Pi Network. PancakeSwap must keep dealing with meme coins for a while to succeed.
