Just as we thought BNX is the only crypto pumping today, CAKE joined the show with a 45% pump. PancakeSwap’s token is now trading above $2.60 for the first time since mid-February.
What you'll learn 👉
Binance Smart Chain Leads Today’s DEX Trading
Binance Smart Chain (BSC) is the hottest blockchain today. On March 17, 2025, BSC recorded $1.712 billion in trading volume, putting it ahead of all competitors. Solana follows with $1.102 billion, while Ethereum sits in third place with $1.022 billion.
Other chains are also active but with lower volumes. Arbitrum processed $348.92 million, Base handled $248.06 million, and Canto reached $210.12 million.
UPDATE: Binance Smart Chain's DEX volume surged to $1.637B in the last 24 hours, surpassing Solana. BSC has held the number one spot for three consecutive days. pic.twitter.com/5HgGBFOOR7
— Coin Bureau (@coinbureau) March 17, 2025
What’s impressive is that BSC has been the top chain for DEX volume for three days straight. This shows BSC’s growing strength in the DeFi market.
PancakeSwap is the biggest player on BSC right now. The exchange processed $1.639 billion in trading volume today, making it the largest exchange on the Binance Smart Chain.
This massive trading activity helped push CAKE’s price up by 45%. As more people use PancakeSwap to trade, more people buy CAKE tokens, driving the price higher.
Should You Buy CAKE Now?
Looking at CAKE’s daily chart, several indicators suggest caution:
The RSI is at 92. This is very high – anything above 70 typically means a coin is overbought. At 92, CAKE has likely climbed too fast and may need to cool down soon.
The Ultimate Oscillator reads 80.167. This indicator looks at price action across multiple timeframes. Readings above 70 usually mean the price has gone up too quickly. At over 80, CAKE appears overextended.
The CCI is at 195.9052. When this number goes above 100, it often means a coin is overbought. At nearly 200, CAKE has moved far above its average trend.
Based on these numbers, CAKE looks overbought on all fronts. While the increased trading on BSC and PancakeSwap is good for CAKE long-term, the short-term outlook suggests waiting.
#CAKE has surged 33% since our last update. Shoutout to the traders who capitalized on this opportunity! #CZ also highlights and mentions on X that the top volume #DEX on the BSC network (PancakeSwap), still has plenty of potential for growth!$CAKE #CAKEUSDT #BNB https://t.co/LEtQAWpKbI pic.twitter.com/Z2faubomSy
— CryptoBull_360 (@CryptoBull_360) March 17, 2025
It might be better to wait for a price drop before buying. CAKE will likely pull back before it can climb higher again. Patience could get you a better buying price in the coming days. Of course, note that if the buying pressure continues, CAKE might potentially ‘touch’ $3 range before facing a correction.
Read also: Sources: XRP vs. SEC Case ‘Very Close to Ending’ as Ripple Prepares for a Reduced Fine
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
