Crypto Market Update: Key Developments and Trends
Last week, the crypto market saw mixed results. The Federal Reserve kept interest rates steady, and the SEC dropped its Ripple Labs appeal. Despite these events, Bitcoin (BTC) couldn’t break the $90,000 barrier. Ethereum (ETH) and other altcoins also stayed in a bear market.
This week, the market will be on edge, waiting for President Trump’s tariffs. Top cryptos to watch include PancakeSwap (CAKE), EOS (EOS), and Pi Network (PI).
PancakeSwap’s Surge
PancakeSwap, the leading decentralized exchange on BNB Chain, is in focus. CAKE rose to $2.82, up 105% from its monthly low. Its weekly volume hit $14.8 billion, surpassing Uniswap and Raydium. This growth was fueled by meme coins like Mubarak and Brocolli on BNB Chain.
However, the challenge is that meme coins often spike initially and then crash. This could mirror what happened to Solana DEXes like Raydium and Orca.
EOS Rebrands to Vaulta
EOS token climbed to $0.6676, up 55% from its yearly low. This was due to EOS rebranding to Vaulta, focusing on blockchain banking. The rebrand will happen in April, inheriting EOS’s infrastructure and exSat integration.
Rebrands have mixed results. fantom’s rebrand to Sonic was triumphant,but others like Polygon and Elrond didn’t fare as well.
Pi Network’s challenges
Pi Network (PI) token price is under scrutiny due to its recent drop from near $3 to $1. This was because of delays in exchange listings by major platforms. Investors are also worried about upcoming token unlocks.
Though, Pi Network has formed a falling wedge pattern, suggesting a potential rebound this week or in April.
