PancakeSwap has recorded a significant price increase following the launch of a new feature on the platform. Other cryptos like Stellar and Bitcoin Spark have remained bullish, reclaiming key resistance levels. Let’s find out how these altcoins are performing in the crypto market.
PancakeSwap (CAKE) Has Spiked Following a New Feature Launch
One of the leading decentralized exchanges, PancakeSwap, has recorded a price spike. The price of the PancakeSwap coin jumped by almost 30% to peak above $1.65. However, the PancakeSwap crypto, CAKE, retraced back to $1.49.
PancakeSwap recently launched a Position Manager Tool on the DEX earlier this week. The recently launched feature allows users of the exchange to deposit funds into a vault. The funds can be allocated automatically to liquidity pools for yield farming within the PancakeSwap exchange.
With the recent bullish momentum in the crypto market, the price of PancakeSwap may benefit. However, the price of CAKE could see some increase in the coming weeks. According to the price prediction of analysts, PancakeSwap must break above the $1.50 level to rally to $2.0.
Stellar Has Reclaimed a Key Resistance, a Price Increase Expected?
The Stellar coin, XLM, has traded in consolidation for most of the year. However, the Stellar chart has broken above a key resistance level and could see some increase in the coming weeks. Market analysts have confirmed the break above the $0.110 level as a bullish signal.
The price increase above the $0.122 level can be a confirmation of the possible change. Furthermore, the Stellar price has broken out of a 100-day resistance. In addition, the daily timeframe, RSI, and price action have all shown bullish sentiment.
In addition, Stellar has made some strides in achieving projects on the roadmap. The next price forecast for XLM price is the $0.160 level. A break above this level will see the price of Stellar rally to the $0.200 level in the coming weeks.
Bitcoin Spark (BTCS) Readies for Major Price Surge
Another crypto that has seen some bullish price movement is Bitcoin Spark. Crypto analysts have given bullish predictions for Bitcoin Sparks because of its unique nature. An improvement to the original Bitcoin blockchain has been developed by Bitcoin Spark.
One of the most popular additions to Bitcoin Spark is the integration of smart contract functionality. This shows that even while smart contracts provide flexibility, this new Bitcoin fork maintains Bitcoin’s dependability and security.
Decentralized apps (dApps) make it possible for developers to create and implement. For Bitcoin Spark, analysts have predicted a robust DeFi ecosystem because of the blockchain’s trustworthiness. Consequently, optimistic forecasts have been made regarding the Bitcoin Spark token, BTCS.
Recently, Bitcoin Spark moved into its ninth stage of the cryptocurrency presale. With a current market value of $3.50, BTCS is being introduced through an initial coin offering (ICO) to allow investors to purchase Bitcoin in advance. In the upcoming bull market, analysts have projected that BTCS may hit a high value of $45.
Find out more about the Bitcoin Spark ICO below: