A crypto strategist closely followed by the crypto community thinks that a low-cap altcoin is about to return to all-time highs.
Crypto trader known by the nickname Loma, Binance’s upcoming $1,000,000,000 growth fund is the popular decentralized exchange of Binance Smart Chain. Pancake Swap (CAKE) believes it has the potential to be reinvigorated.
The analyst, who told 209,000 Twitter followers that Binance’s growth fund for the altcoin would be a potential catalyst, says that CAKE could return to its previous all-time high of $44. This represents a rally over 50 percent of CAKE’s current value.
“Damn, I wish Binance announced something like a $1 billion incentive program.”
As we mentioned earlier, Binance announced on Tuesday that it has launched a $1 billion fund to expand the Binance ecosystem, and the development the analyst was waiting for occurred. The expansion plans include the allocation of $100 million to the Liquidity Incentive program, which will provide liquidity rewards to certain protocols based on innovation, total value locked (TVL), active users or trading volumes, in addition to greater flexibility and support for professional traders.
A talent fund of $100 million and a Build and Incubation Program of $300 million will be earmarked to engage investors in the crypto ecosystem. The remaining $500 million will be earmarked for investment in the BSC ecosystem and supporting blockchain infrastructure outside of Binance.
Pancake Swap’s TVL is trading at a total of $5.2 billion and $20.44 at the time of writing, according to CoinGecko.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.