📈 PancakeSwap Tops Uniswap in Daily Volume, CAKE Jumps 40%

gm Defiers!

The crypto market is seeing major shifts, from PancakeSwap overtaking Uniswap in daily volume to ERC-20 tokens surpassing ETH in market cap.

Meanwhile, Hamster Kombat’s Layer 2 activity has plummeted 99%, and Hyperliquid faces pressure as HYPE crashes 40%.

✍️ In today’s newsletter:

CAKE soars 40% as PancakeSwap overtakes Uniswap in volume
World App announces partnership with Razer
Crypto slips as investors brace for key Fed decision
ERC-20 tokens on Ethereum now exceed ETH in market cap
Solana community votes down SIMD-228
Institutions are buying high and selling low on Bitcoin
Hamster Kombat’s layer 2 activity crashes 99%
Hyperliquid revamps margin system after $4M loss

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📈 Markets in the last 24 hrs:

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📈CAKE Surges 40% as PancakeSwap’s Daily Volume Outpaces Uniswap

PancakeSwap was the top DEX by daily volume the past 24 hours, outpacing Uniswap by 60% as memecoin mania drives activity on BNB Chain. CAKE also soared 41% in the past 24 hours and 67% over the week.

🤝World App Expands Ecosystem into Gaming With Razer Partnership

World Network is partnering with gaming giant Razer to introduce ‘Razer ID Verified by World ID,’ a proof-of-human system designed to help gamers distinguish real players from bots.

⏬Crypto Market Dips as Investors Await Key Fed Decision

The crypto market edged lower ahead of Wednesday’s FOMC meeting, with traders seeking clarity on future interest rate policy. The total market cap slipped 1% to $2.83 trillion, as Bitcoin dipped to $83,600.

💰Ethereum ERC20 Tokens Are Now More Valuable than ETH

ERC-20 tokens now make up a larger share of Ethereum’s secured value than ETH itself. ERC-20 tokens hold a combined market cap of nearly $261 billion, surpassing ETH’s $237 billion and accounting for 51% of the network’s $500 billion in total value.

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🛑Solana Community Rejects SIMD-228 Proposal to Reduce Token Emissions

Solana validators have voted down the SIMD-228 proposal, which aimed to reduce SOL token emissions through a dynamic staking-based model. Despite securing 61.6% support, the proposal fell short of the required two-thirds majority.

🌍 ELSEWHERE

Strategy Buys More Bitcoin After Announcing Preferred Sales (Bloomberg)
Robinhood Brings Prediction Market Hub to Market After Success of Crypto-Based Polymarket (CoinDesk)
Bitcoin stuck under $85K as outflows surge, but XRP sees $1.8M inflows (TheStreet)