Friday, January 28

Check out PancakeSwap on Real

The world’s largest broker, Binance, has announced that it will withdraw the BSC PancakeSwap (CAKE) token from the Real pair. The measure draws the attention of the Brazilian cryptocurrency community, which used this platform as the main gateway to CAKE. This token caught the attention of DeFi fans on the Binance Smart Chain network, as the brokerage lists several farm currency pairs.

In addition, it is worth remembering that PancakeSwap is one of the main decentralized brokers in the cryptocurrency market today, second only in volume to Uniswap, according to CoinGecko data consulted by Livecoins this Thursday (16).

Principal mercado da PancakeSwap no par Real, Binance vai deslistar CAKE

The largest brokerage in terms of trading volume in the world and in Brazil in recent months took the local market by surprise on Thursday. In a statement shared with market traders, Binance said it will drop a few more pairs from trading in the coming days.

Scheduled to take place on December 24, 2021, at midnight, one of the pairs that will be affected is PancakeSwap with the pair Real (CAKE/BRL), which held the largest trading volume in Brazil in Binance.

Remember that this broker is a partner of Binance, with market rumors indicating that the large broker even has shares in this DEX. In addition to CAKE/BRL, Binance will remove AXS/BIDR, SUSHI/BIDR and WAVES/RUB pairs.

“Binanciers companions: Binance will remove and stop trading on the following trading pairs at 12-24-2021 03:00 AM (UTC): AXS/BIDR, CAKE/BRL, SUSHI/BIDR, WAVES/RUB. Note: Users can still trade the above assets on other trading pairs available in Binance.”

As is common in Binance’s communications to the market, the broker did not explain which motivated the delisting of CAKE in the Real pair for traders at this time.

CAKE volume should drop in Brazil or migrate to two other brokers

According to information from the Brazilian Cripto Market, PancakeSwap is listed in par Real in three Brazilian brokers. However, Binance records the highest volume of transactions this month of December 2021, even on the eve of delisting the token of the broker PancakeSwap.

Brazilian Cripto Market, volume of PancakeSwap in Real in December 2021

With the exit of the biggest market in Real, the tendency is for Binance users to switch brokers or stop trading in this pair, which had a volume of R$ 24 million in recent days.

In recent days, PancakeSwap even listed the Santos Futebol Clube token at the same time as Binance, which drew attention to the partnership between the brokers and their upcoming listing processes in the market.