Pancake Swap (CAKE) Gets Strategic Investment from Binance
Binance Labs has announced a strategic
investment in Pancake Swap. The investment is a recognition of Pancake’s
commitment to the BNB chain. Since the
Binance Chain was launched, Pancake has been a big supporter. A spokesperson
for PancakeSwap said: “Since $CAKE was a fair launch, we didn't have any
private round investors. However, Binance Labs purchased $CAKE in public
markets, which typically poses a much higher risks compared to private markets,
showing their greater confidence in our project.”
The timing of the move is curious with the current market selling pressures and Binance maybe propping up CAKE. Near-term price predictions for CAKE could see resistance ahead of the $10 level. CAKE should recover to around $12 this year and could see the highs of $40 again in late-2023.
Avalanche could face an uphill battle for gains and the price prediction in the near-term has resistance at the $37 level. Avalanche still faces the threat of further losses due to problems at Three Arrows capital. The digital hedge fund has created losses for Ethereum as it liquidated a wrapped ETH coin. Avalanche made a statement that 3AC has no control of the AVAX treasury but the coin could suffer if 3AC liquidates an Avalanche stake. AVAX will be slow to recover but we should see the project at $65 or more in 2023.
Chronoly (CRNO)is the world’s first ever fractional watch investment platform built on the Etheruem blockchain. Any user can invest from as little as $10 into an NFT which is backed by the real life asset. In this case a rare, luxury and exclusive watch. Chronoly mints NFTs for each rare watch that it holds in a secure and fully insured vault. The vaults which will be audited every quarter by the likes of Deloitte are owned by some of the most respected companies in the security industry worldwide. Chronoly has a first-mover advantage into the blockchain F-NFT space and it is still under the radar. Once investor attention increases, the CRNO token will rise. Early investors have already benefited from a 400% rise in the presale.
Holders can also get an annual yield by staking their tokens after presale and there is also access to a premium members club and prize draws for watches and cash for simply holding your tokens. Chronoly has been tipped for big things and once the token sale is completed it will look at listings on some of the top crypto exchanges. In addition, Chronoly recently passed a Solidproof audit, which proves that this project is not a scam, unlike many others. Analysts have predicted that before the end of presale on September 27th, the CRNO token could rise a further 2,000%. It’s no wonder why Chronoly have already amassed around 2,500 holders in a matter of weeks.
More information on the Chronoly.io presale here: