Binance Triggers Rally for Decentralized Finance Altcoin With Announcement of Strategic Investment

The native token of a decentralized exchange (DEX) is heating up after news broke that it was receiving an investment from the venture capital wing of crypto behemoth Binance.

Today, Binance Labs announced it has invested an undisclosed amount in PancakeSwap (CAKE).

Binance says the investment will provide both technological and marketing support as part of a broader push for blockchain adoption as Web 3.0 transforms the internet.

PancakeSwap utilizes an automated market maker…

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