PancakeBridge grows to Aptos as the CAKE token keeps cooking on new blockchain networks.
PancakeSwap has announced a new partnership with LayerZero Labs to bring access to the PancakeBridge and the CAKE token to Aptos Network.
Using the OFT (Ominichain Fungible Tokens) standard from LayerZero Labs, the CAKE token has gone multi-chain. The CAKE token is now available on Aptos as well as a variety of EVM blockchains via the PancakeBridge. 23
With the new bridge over to Aptos, PancakeSwap has created new trading pairs accessible across the networks. Users can trade 1:1 for CAKE-APT, CAKE-USDC (LayerZero), CAKE-USDC (Celer).
Check out Chef Berries’ Medium blog post for a step-by-step on how to start bridging today.
PancakeSwap is a Decentralized Exchange (DEX) built on BNB Chain. It offers users various features such as Liquidity Pools, Swapping, Yield Farming, Syrup Pools, Automated Market Maker, Initial Farm Offering (IFO), NFT profile system, and many others.
In addition, the protocol helps users make the most out of their crypto assets by trading, earning through yield farming, and winning via lottery, prediction, and NFT collectibles. With the highest trading volumes in the market, PancakeSwap is the leading DEX on the BNB Chain.
Where to find PancakeSwap:
Website | Twitter | Medium | GitHub
Due to the highly volatile nature of trading, understanding its mechanisms is key to being successful in daily market interactions.
Day trading offers individual traders the unique opportunity to earn based on market trends and quick decisions. This method of trading can offer excellent profit, but it can also be a means to financial woes when executed poorly against certain market standards, rules, and conditions. Let’s dive into how it works and how to minimize risks.
What is Day Trading?
Day trading is one of many trading strategies available for users to profit from the market. It is one of 6 six types of market trading strategies, including position and swing trading among others.
Day trading involves opening and closing trade within the day; hence its secondary title; Intra-day strategy. Here, traders attempt to profit off smaller price movements that are often accompanied by a strong knowledge of technical analysis, which involves understanding classic chart patterns.
A great deal of market experience and skills are needed to navigate the market, along with enough funds to withstand initial losses. Quality time is needed to achieve mastery and sustained profitability, meaning that day trading should not be undertaken as an under-researched hobby.
Day trading can cause investors large amounts of stress due to its unpredictable nature. An emotionally charged trader is prone to errors, leading to a losing streak in their open trades which will further increase their emotional swing.
Certain conditions need to be fulfilled to understand how Day Trading works and to subsequently take part in it:
To increase profitability and longevity in the market, Traders must acquaint themselves with certain market rules; the possibility of blowing their account may not be far-fetched without caution being exercised.
Three strategies are predominant in Day Trading as discussed by this Binance Blog edition;
In order to see the success that brought them towards day trading, investors should start by following these steps:
As with all financial matters and matters that deal with earnings, some aspects of risks exist, but with Day Trade, especially with Leverage, such risks are amplified. Understanding Financial Risk and Risk Reward Ratio is an essential aspect of the day trader journey.
The appeal is mainly found in the gains realized from short-term positions, meaning a financial windfall could be around the corner at any moment. This is in contrast to long term position trading, which trades investment security for delayed profit.
We often hear tales of woes from day traders who have lost substantial amounts due to either bad luck or ineffective strategy, and every other day, there are stories of liquidated longs or shorts. Day trading is filled with risk, and its weaknesses can be provoked by many factors.
The weaknesses of day trading are generally accentuated by the following:
When traders take account of one or several of the above weaknesses, their results will begin to improve over time naturally as they avoid situations that cause them.
Day Trading is one of the most popular trading strategies available in the cryptocurrency market and the traditional stock and Forex trading market. It got its name from the stock market, which only allows trade within business days.
The market is quite lucrative, but only for those who have faithfully followed all of the listed practices, rules, guides, and principles above. Overall, the chances of losing your money are still active; ensure you only use spare funds and not funds for critical needs.
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Buy Crypto with a bank transfer, credit or debit card, P2P exchange, and more. Not investment advice. All trading risk. Terms apply.
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Buy Crypto with a bank transfer, credit or debit card, P2P exchange, and more. Not investment advice. All trading risk. Terms apply.
Sponsored
Buy Crypto with a bank transfer, credit or debit card, P2P exchange, and more. Not investment advice. All trading risk. Terms apply.
