Cake Surges Amid DeFi Rebound and PancakeSwap Upgrade

Cake's price surged by 3.39% over the last 9 hours, driven by a combination of factors rather than a single catalyst.

The move is attributed to a broad DeFi and DEX rebound, with total value locked (TVL) jumping about 9.15% in 24 hours to roughly $83.2 billion, and spot DEX volume exceeding $10.8 billion for the first time since early June.

PancakeSwap handled about $1.2 billion and ranked just behind Uniswap by spot volume, with a new 'Shared Inventory Hook' on its Infinity product going live, allowing a single balance to be shared across multiple markets so liquidity and fees can be reused more efficiently.