PancakeSwap Token Price Rises 20% Following Partnership with Binance

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The price of the token CAKE has risen by more than 20% after non-custodial exchange PancakeSwap announced its integration with Binance’s mobile app.

According to CoinMarketCap, on March 17, the price of the asset rose from $5.7 to almost $7.2 and then dropped to $6.5.

According to the official announcement, a “mini version” of PancakeSwap will be available on the Binance mobile app marketplace. The aim of the integration is to provide users of the centralized Binance platform with access to decentralized finance.

In addition, Binance has launched its own non-custodial Web3 wallet, Binance DeFi Wallet, which will allow interoperability with PancakeSwap and other decentralized protocols. The platform representatives said:

“The Binance DeFi Wallet is designed to make it easier for new users to sign up and transfer funds. With the wallet, switching between Binance and DeFi is easy, no need to worry about choosing blockchains and copying the right address.”