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Coinbase has added the native altcoin of the top decentralized exchange (DEX) to its listing roadmap.
Coinbase’s customers may soon be able to trade PancakeSwap (CAKE), the native asset of PancakeSwap, a DEX originally built on the BNB Chain.
PancakeSwap has expanded to multiple blockchains and now leads all decentralized exchanges in trading volume, recording $228.03 billion in the past 30 days compared to Uniswap’s (UNI) $95.706 billion, according to DeFi Llama.
PancakeSwap also recently set its monthly record with $173 billion in trading volume in May.
The roadmap addition, announced on Wednesday, has not boosted CAKE’s price: The 116th-ranked crypto asset is trading at $2.25 at time of writing and is down more than 7% in the past 24 hours and nearly 11% in the past seven days.
Being added to Coinbase’s listing roadmap means that the top US crypto exchange is considering rolling trading support for the asset in the near future. The roadmap was established in 2022 to increase transparency and reduce the possibility of investors frontrunning new trading support announcements.
Coinbase CEO Brian Armstrong has previously said the exchange aims to list as many crypto assets as possible, as long as they meet the company’s standards.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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