I take this post to comment on some of the news from Pancakeswap for this week. Since it has been placed in the Top 1 as the Exchange that has registered the highest volume of transactions, chefs want to continue generating interest and attract the attention of stakers in Ethereum so that they migrate to the Binance Smart Chain and stop bearing abusive fees.
Starting tomorrow, February 25, we will have a new pool available to win cake by staking our Sushi tokens. Sushiswap is another of the most relevant exchanges of today, characterized by being an AMM. Your governance token can help us earn Cake within the BSC.
To migrate our Sushi from Ethereum to Sushi from BSC we can use bridge platforms such as Safepal, a recent application that will give us the possibility to migrate our ERC-20 tokens to BEP-20.
All these pools are put to a vote, the thing has been quite close because Aave has also asked a lot. Maybe in the next few weeks they will open a pool for us to Staking Aave and win Cake.
The guys at Pancakeswap are coming up with various legitimate and respectable trading strategies, embracing many of the most popular and sought-after tokens on the Ethereum blockchain. The idea is to take away market share and capture a large number of investors who are motivated by the speed of transactions and the low commissions that the BSC has.
Within the BSC, the highest fee that we are going to find is when exchanging our tokens, which is around 0.52 dollars. For the approval of contracts and the confirmation of deposits right now we are registering fees of 0.10 and 0.20 dollars.
Store your Cakes in the fridge and don't let the fungus eat them.
Is good moment to buy 1inch?
Bitcoin's sharp correction below $ 50,000 has triggered a massive sale of DeFi tokens and Altcoins. Many investors are scared that this bearish inertia will continue and quickly exit the market to minimize losses.
One of the most affected tokens has been 1inch. It is already below $ 4 and it could be a good time to grab a handful of tokens.
1inch is a very important Exchange of the Ethereum Network, with the ability to Cross-Chain. It connects us with the most important DEXs, for example Uniswap and Sushiswap and allows us to exchange our tokens at the best possible price.
The white unicorn is not on a roll. It should be mentioned that the delays in its Airdrop have not liked the community and that the success of the Binance Smart Chain has not benefited them.
We must be careful with the FOMO in bear markets, that cryptocurrencies fall so much in price does not assure us that there will be an immediate rebound, we could be like that for months. Some tokens will not raise their heads for a long time so you have to study the play well.
Regarding 1inch, I highlight the resistance that it has found in the 5 dollars of price, even during the Alt Season it did not exceed it. Therefore, this could mean a total recession of the token or that in the next Bull Market it breaks that resistance and reaches 10 dollars.
Until July 2021, with the launch of EIP-1559, the fees of the Ethereum blockchain will not change. Yet another reason to distrust a price increase.
Maximum caution.