PancakeSwap Price Soars to New Highs, Exceeding $2.37 Billion in 24-Hour Volume

The price of PancakeSwap (CAKE) surged more than 9% within the past 24 hours, surpassing the $2.37 mark and setting a new record high for the decentralized exchange. This surge was fueled by an astonishing daily trading volume of $2.2 billion, leading the market for decentralized exchanges. Analysts attribute this jump to expanding DeFi applications and increased institutional investment, along with positive sentiment surrounding trade talks between the U.S. and China.