{"id":88771,"date":"2023-12-27T17:29:17","date_gmt":"2023-12-27T15:29:17","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=88771"},"modified":"2025-09-13T20:06:26","modified_gmt":"2025-09-13T17:06:26","slug":"cake-token-surges-25-reasons-and-other-altcoin-leaders","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/cake-token-surges-25-reasons-and-other-altcoin-leaders\/","title":{"rendered":"CAKE Token Surges 25%: Reasons and Other Altcoin Leaders"},"content":{"rendered":"<p>On December 26, after burning 10 million CAKE tokens, the native coin of the PancakeSwap <span data-descr=\"decentralized exchange\" class=\"old_tooltip\">DEX<\/span>-platform jumped 25% \u2014 from $2.95 to $3.72.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-eu.googleusercontent.com\/XRAnKmf0eznVRa83haAtmdGo2LchvAq0iiE5hBRMBYPhRwX6LEcS3wV9984MD3xu_t-MJXcJeaORH8vtSchaZx0B-7tD8mJrEi5mz7ef1hl_tIjvmtP0Hm0BDggBSBfbYmxgQgYFa5g4fkg2n7rDh1U\" alt=\"CAKE token jumps 25%: Reasons and other altcoin leaders\"\/><figcaption class=\"wp-element-caption\">15-minute CAKE\/USDT chart on Binance. Data: <a href=\"https:\/\/ru.tradingview.com\/symbols\/CAKEUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>Subsequently the price retraced to around $3.35, but by the time of writing had recovered to $3.65.<\/p>\n<p>The weekly gain for CAKE stood at 65%. The asset&#8217;s market capitalization over this period rose from $590 million to $965 million, according to <a href=\"https:\/\/www.coingecko.com\/en\/coins\/pancakeswap\">CoinGecko<\/a>.<\/p>\n<p>Price moves followed the burning of 10,166,225 CAKE worth about $34 million, as part of the token&#8217;s supply reduction.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">? 10,166,225 <a href=\"https:\/\/twitter.com\/search?q=%24CAKE&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$CAKE<\/a> just burned \u2014 that\u2019s $34M!<\/p>\n<p>? Trading fees (AMM V2): 132k CAKE ($438k) -29%<br \/>? Trading fees (AMM V3): 79k CAKE ($260k) -23%<br \/>? Trading fees (Non-AMM like Perpetual, Position manager etc): 4k CAKE ($1k) -98%<br \/>? Prediction: 34k CAKE ($112k) -27%<br \/>?\ufe0f Lottery &#038;\u2026 <a href=\"https:\/\/t.co\/veRsDhcFFB\">pic.twitter.com\/veRsDhcFFB<\/a><\/p>\n<p>\u2014 PancakeSwap?Everyone&#8217;s Favorite DEX (@PancakeSwap) <a href=\"https:\/\/twitter.com\/PancakeSwap\/status\/1739626558779015499?ref_src=twsrc%5Etfw\">December 26, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Last week, the platform&#8217;s community proposed reducing the circulating supply from 750 million to 450 million \u2014 after the proposal, the coin price also <a href=\"https:\/\/forklog.com\/en\/news\/pancakeswap-community-proposes-cutting-cake-supply-token-up-about-20\">rose by 20%<\/a>.<\/p>\n<p>The current circulating supply stands at about 266 million CAKE.<\/p>\n<p>According to the developers, a certain amount of tokens will be burned weekly until the community decides to halt the process.<\/p>\n<p>Although CAKE has strengthened its position, it remains far from its April 2021 high of $41.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Other favorites<\/strong><\/h2>\n<p>Meanwhile, the Polygon (MATIC) ecosystem token surpassed the $1 mark for the first time in eight months, gaining more than 20% in a day.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-eu.googleusercontent.com\/FMr1HO0BHEifJtG29eUI2Du2O3kKevFSUjEL4YAcARqSX85V7ep-PIac0sb4bC6cGK-qs9_bj7Zf23hD2_pvfHzhjhRn0x4chwLITrhwSQ-FyGuVVPzy22ZU0HYkdfzzvEe3Mh_exqqF89OYkyfr2n0\" alt=\"MATIC token jumps 20% to $1.0\"\/><figcaption class=\"wp-element-caption\">15-minute MATIC\/USDT chart on Binance. Data: <a href=\"https:\/\/www.tradingview.com\/symbols\/MATICUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>The rise was accompanied by a surge in trading volumes. MATIC&#8217;s market cap over 24 hours rose by almost $2 billion to $10 billion, and trading volume topped $2.6 billion.<\/p>\n<p>Meanwhile, in recent days the project\u2019s developers have not issued major announcements. The Polygon community is now awaiting the launch of a new asset, Polygon Ecosystem Token (POL), designed to <a href=\"https:\/\/forklog.com\/en\/news\/polygon-launches-ethereum-token-pol-to-replace-matic\">replace MATIC<\/a>.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24MATIC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$MATIC<\/a> is one of the most undervalued projects out there. If I wouldnt have bought tons of it at $0.50 I would heavily enter now as anything below $1 is a gift<\/p>\n<p>Sooner or later its an easy double digit coin in the incoming bull. One of my favorite coins<\/p>\n<p>\u2014 Doctor Profit ?? (@DrProfitCrypto) <a href=\"https:\/\/twitter.com\/DrProfitCrypto\/status\/1739676030267252985?ref_src=twsrc%5Etfw\">December 26, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abMATIC \u2014 \u043e\u0434\u0438\u043d \u0438\u0437 \u0441\u0430\u043c\u044b\u0445 \u043d\u0435\u0434\u043e\u043e\u0446\u0435\u043d\u0435\u043d\u043d\u044b\u0445 \u043f\u0440\u043e\u0435\u043a\u0442\u043e\u0432. \u0415\u0441\u043b\u0438 \u0431\u044b \u044f \u043d\u0435 \u043a\u0443\u043f\u0438\u043b \u0438\u0445 \u0442\u043e\u043d\u043d\u044b \u043f\u043e $0,50, \u0442\u043e \u0430\u043a\u0442\u0438\u0432\u043d\u043e \u0432\u043e\u0448\u0435\u043b \u0441\u0435\u0439\u0447\u0430\u0441, \u043f\u043e\u0441\u043a\u043e\u043b\u044c\u043a\u0443 \u0432\u0441\u0435, \u0447\u0442\u043e \u043d\u0438\u0436\u0435 $1, \u044f\u0432\u043b\u044f\u0435\u0442\u0441\u044f \u043f\u043e\u0434\u0430\u0440\u043a\u043e\u043c. \u0420\u0430\u043d\u043e \u0438\u043b\u0438 \u043f\u043e\u0437\u0434\u043d\u043e \u043d\u0430 \u043f\u0440\u0435\u0434\u0441\u0442\u043e\u044f\u0449\u0435\u043c \u0431\u044b\u0447\u044c\u0435\u043c \u0440\u044b\u043d\u043a\u0435 \u044d\u0442\u043e \u0431\u0443\u0434\u0435\u0442 \u0434\u0432\u0443\u0437\u043d\u0430\u0447\u043d\u044b\u0439 \u0442\u043e\u043a\u0435\u043d\u00bb, \u2014 \u043d\u0430\u043f\u0438\u0441\u0430\u043b \u0442\u0440\u0435\u0439\u0434\u0435\u0440 \u043f\u043e\u0434 \u043d\u0438\u043a\u043e\u043c Doctor Profit.<\/p>\n<\/blockquote>\n<p>The Arbitrum ecosystem token also gained nearly 12% in 24 hours, reaching $1.50.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-eu.googleusercontent.com\/JVcb4L1a14gJ_C1d3MTRWEYHZmQmPx5-stFAEMHcnwG7kvTKyPoJbhniEqpThp16YJe_1OxDYP7bY535t3Q_Ufan47RcQ80x-tCXoxhja0pSPuxzOW_-s3jDJM3wOHHLBixp-9vsHmdbclHLh8ddTQU\" alt=\"Optimism token chart\"\/><figcaption class=\"wp-element-caption\">15-minute OP\/USDT chart on Binance. Data: <a href=\"https:\/\/www.tradingview.com\/symbols\/OPUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>Weekly gains for the asset exceeded 75%, and yearly gains reached 300%.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The <a href=\"https:\/\/twitter.com\/hashtag\/Ethereum?src=hash&#038;ref_src=twsrc%5Etfw\">#Ethereum<\/a> ecosystem is heating up, as Arbitrum and Optimism are rallying.<\/p>\n<p>It\u2019s just getting started with the cycle.<\/p>\n<p>\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) <a href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1740000810472546712?ref_src=twsrc%5Etfw\">December 27, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00ab\u042d\u043a\u043e\u0441\u0438\u0441\u0442\u0435\u043c\u0430 Ethereum \u043d\u0430\u043a\u0430\u043b\u044f\u0435\u0442\u0441\u044f, \u043f\u043e\u0441\u043a\u043e\u043b\u044c\u043a\u0443 Arbitrum \u0438 Optimism \u0443\u0441\u0442\u0440\u043e\u0438\u043b\u0438 \u0440\u0430\u043b\u043b\u0438. \u0426\u0438\u043a\u043b \u0442\u043e\u043b\u044c\u043a\u043e \u043d\u0430\u0447\u0438\u043d\u0430\u0435\u0442\u0441\u044f\u00bb, \u2014 \u0441\u043a\u0430\u0437\u0430\u043b \u043e\u0441\u043d\u043e\u0432\u0430\u0442\u0435\u043b\u044c MN Trading \u041c\u0438\u0445\u0430\u044d\u043b\u044c \u0432\u0430\u043d \u0434\u0435 \u041f\u043e\u043f\u043f\u0435.<\/p>\n<\/blockquote>\n<p>The Arbitrum ecosystem token also rose by almost 12% in 24 hours, reaching $1.5.<\/p>\n<p>Earlier on December 24, the Solana (SOL) token <a href=\"https:\/\/forklog.com\/en\/news\/solana-hits-year-to-date-high-above-115\">rose to $118<\/a> for the first time since April 2022. Other on-chain metrics for the blockchain also <a href=\"https:\/\/forklog.com\/en\/news\/solana-on-chain-metrics-hit-annual-highs\">updated<\/a> annual highs.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On December 26, after burning 10 million CAKE tokens, PancakeSwap&#8217;s native coin jumped 25% \u2014 from $2.95 to $3.72.<\/p>\n","protected":false},"author":1,"featured_media":88772,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[20,1145,1150,1446],"class_list":["post-88771","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-altcoins","tag-market-analysis","tag-news-plus","tag-pancakeswap"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/88771","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=88771"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/88771\/revisions"}],"predecessor-version":[{"id":88773,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/88771\/revisions\/88773"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/88772"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=88771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=88771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=88771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}