Cryptocurrency prices exhibited varied trends last week as the Federal Reserve maintained interest rates and the U.S. Securities and Exchange Commission concluded its appeal against Ripple Labs.
The crypto market sentiment remained in the fear zone, with Bitcoin (BTC) unable to surpass the $90,000 mark. Ethereum (ETH) and numerous altcoins continued to navigate through a technical bear market.
This week, the cryptocurrency market is poised for potential volatility as investors brace for President Trump’s reciprocal tariffs. Notable cryptocurrencies to monitor include PancakeSwap (CAKE), EOS (EOS), and Pi Network (PI).
PancakeSwap
PancakeSwap, the leading decentralized exchange on the BNB Chain, is attracting attention due to its recent performance. The CAKE token surged to $2.82 last week, representing a dramatic 105% increase from the month’s low.
This rise occurred as PancakeSwap reclaimed its status as the largest DEX in terms of trading volume, with a remarkable weekly volume increase of 60%, reaching $14.8 billion—surpassing Uniswap and Raydium.
The spike in PancakeSwap’s volume can be attributed to a slew of new meme coin launches on the BNB Chain, including Mubarak and Brocolli.
However, PancakeSwap faces challenges ahead, as many meme coins experience initial surges followed by declines as early investors cash out. This situation mirrors the recent trends seen with Solana DEXes like Raydium and Orca, which experienced sharp volume fluctuations due to similar meme coin dynamics.
EOS
The price of the EOS token rose to $0.6676 last week, marking a 55% increment from its year-to-date low. This increase follows EOS’s rebranding to Vaulta, which will emphasize blockchain banking.
The rebranding effort will see EOS transition to Vaulta, with a new ticker set to be announced in April. This move aims to leverage EOS’s existing infrastructure, including its partnership with exSat for Bitcoin banking solutions.
Historically, rebranding can lead to mixed outcomes for blockchain networks. While some, such as the recent transformation of Fantom to Sonic, have succeeded significantly, others like Polygon’s shift from MATIC to POL have not met expectations.
Pi Network
This week, the Pi Network (PI) token is under scrutiny as its value plummets from an all-time high near $3 to a critical support level at $1. This decline has been exacerbated by the absence of significant exchange listings.
Investors are also wary of the upcoming token unlocks, which will release 188 million new tokens this month, followed by over 1.6 billion in the next year.
On a more optimistic note, the Pi Network token has shown signs of forming a falling wedge pattern, which could indicate a potential rebound in the coming days or in April.
