In the past week, cryptocurrency prices displayed mixed results following the Federal Reserve’s decision to maintain interest rates and the U.S. Securities and Exchange Commission’s resolution of its appeal against Ripple Labs.
The market sentiment for crypto remained firmly within the fear zone, with Bitcoin (BTC) failing to break the $90,000 barrier. Ethereum (ETH) along with most altcoins also seemed trapped in a technical bear market.
This week, prices in the cryptocurrency market are anticipated to stay volatile as the market prepares for possible reciprocal tariffs from President Trump. Key cryptocurrencies to watch include PancakeSwap (CAKE), EOS (EOS), and Pi Network (PI).
PancakeSwap
PancakeSwap, the leading decentralized exchange on the BNB Chain, will be under close scrutiny this week due to its notable recent performance. The CAKE token rose to $2.82 last week, which represents a 105% increase from its bottom earlier this month.
This upsurge occurred as PancakeSwap reclaimed its position as the leading DEX in terms of trading volume. Its weekly trading volume jumped by 60% to $14.8 billion, surpassing Uniswap’s $8.29 billion and Raydium’s $2.5 billion.
The growth in PancakeSwap’s volume was fueled by the recent launch of meme coins on the BNB Chain, such as Mubarak and Broccoli.
However, PancakeSwap faces the challenge that many meme coins tend to rise sharply initially before experiencing a downturn as early investors cash out. A similar situation unfolded in Solana’s DEXes like Raydium and Orca a few months ago when their volumes surged and then plummeted following the fall of Solana meme coins.
EOS
Last week, the EOS token rose to $0.6676, marking a 55% increase from its lowest price this year. This rebound coincided with EOS’s rebranding as Vaulta, which aims to focus on blockchain banking solutions.
As part of the rebranding, the EOS token will take on the name Vaulta, with the new ticker symbol to be revealed in April. It will maintain the foundational infrastructure of EOS, including its connection with exSat, a Bitcoin banking platform.
In the past, rebranding efforts in cryptocurrency networks have yielded mixed results. For instance, the recent rebranding of Fantom to Sonic has proven very successful, with its total value locked and stablecoin market cap reaching all-time highs.
On the other hand, some rebranding initiatives have fallen short of expectations, like Polygon’s transition from MATIC to POL and Elrond’s rebranding to MultiversX.
Pi Network
This week, the price of the Pi Network (PI) token is set to draw attention due to its recent downturn. It has plummeted from an all-time high of nearly $3 to a critical support level around $1. This decline has been intensified by the absence of exchange listings on major platforms like Binance, Kraken, Coinbase, and Upbit.
Investors in Pi Network are also worried about the impending token unlocks, which are set to release 188 million new tokens this month and over 1.6 billion in the following year.
On a brighter note, the Pi Network token seems to be forming a falling wedge pattern, indicating a potential recovery later this week or in April.
