Investors Dumping PancakeSwap (CAKE) And Synthetix Network (SNX) For Yachtify (YCHT) | Coinspeaker

Investors Dumping PancakeSwap (CAKE) And Synthetix Network (SNX) For Yachtify (YCHT)

May 11th, 2023 at 5:36 am UTC · 3 min read

Investors Dumping PancakeSwap (CAKE) And Synthetix Network (SNX) For Yachtify (YCHT)

The popularity of digital currencies has skyrocketed in recent years, due to their many benefits. However, the crypto market can be volatile with prices fluctuating every now and then. As a result, investors are seeking out new passive income streams that can withstand market downturns.

Despite being popular tokens, PancakeSwap (CAKE) And Synthetix Network (SNX) have underperformed lately. Nevertheless, a new opportunity has arisen with Yachtify (YCHT), a pioneering platform that will allow anyone to buy, sell, own, and rent various types of yachts and boats.

Yachtify (YCHT): Your Chance To Enter The $10B+ Yacht Industry

Yachtify has set its sights on the yacht industry due to its immense potential. As a result, Yachtify wants to launch a pioneer marketplace that will facilitate fractional timeshare ownership, renting, buying, and selling of various yachts, including Sunseeker Yachts and Jetskis.

Also, the platform will generate NFTs representing each investment to provide tangible asset ownership. Interestingly, the Yachtify ecosystem will include a lending protocol, rewards club, and NFT marketplace. To ensure user safety, the platform’s team has successfully undergone audits by InterFi Network and SolidProof.

Using blockchain technology, investors will be able to purchase and rent a variety of boats and track their income. Investors will also receive a percentage of the platform’s fee shares based on their investment.

Currently, Yachtify tokens are available for $0.10 each during the initial presale stage. Early investors can benefit from a 30% bonus .

Find out more about the Yachtify (YCHT) presale: Website, Twitter, Telegram.

PancakeSwap (CAKE) Struggles Amid Bearish Market

PancakeSwap (CAKE) is the most extensive decentralized exchange (DEX) on the Binance Smart Chain (BSC). Recently, the platform put forward a deflationary model proposal for its tokenomics.

This proposal aims to burn a proportion of the transaction fees generated by the PancakeSwap (CAKE) platform, which will gradually reduce the total supply of PancakeSwap (CAKE) tokens in the market.

As a result, PancakeSwap (CAKE) tokens will become scarce. This could increase the value of the token and encourage long-term holders. Despite this, PancakeSwap’s (CAKE) price has not experienced any significant surge.

By press time, the price of PancakeSwap (CAKE) stands at $1.87, with a 24-hour trading volume of $92,041,548. PancakeSwap’s (CAKE) price has declined by about 3.23% over the past 24 hours and  26.86% over the last seven days.

Synthetix Network (SNX) Price Drops Amid Increased Trading Volume

Synthetix Network (SNX) is building a decentralized liquidity provisioning protocol that any protocol can leverage for various purposes. The low fees and deep liquidity of Synthetix Network (SNX) serve as a backend for numerous exciting protocols on both Ethereum and Optimism.

Over the last 24 hours, the trading volume of Synthetix Network (SNX) has increased to $48,060,485, indicating a recent upsurge in market activity. Despite this, the price of Synthetix Network (SNX) has been experiencing a steady decline in the past week.

Presently, the price of Synthetix Network (SNX) stands at $2.14, a 4.68% price decrease in the past 24 hours and an 8.64% price drop over the past seven days.

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