Earn Up to 60% APY by Long-term Staking This Monster Crypto of the Week

Learn more about why this BSC behemoth belongs on every crypto watchlist.

Photo by Joshua Ryder on Unsplash

What crypto decentralized exchange has the highest number of active users, generates the highest revenue for its holders, and allows you to earn nearly 60% by staking its native token? While many would guess Uniswap is the king of the DEX jungle, this DEX belongs on every crypto investor's watchlist. And if the picture didn't give it away, I am referring to Binance Smart Chain's (BSX) crown jewel, PancakeSwap.

At this stage in DeFi, each chain has its all-star dApp. The all-star is typically the dApp with the most value locked, draws new users into the chain, and gets the lion's share of the activity. Think names like TraderJoe (Avalanche), Spookyswap (Fantom), Synthetix (Optimism), GMX (Arbitrum), and Uniswap (Ethereum). On BSC, no dApp is more critical than PancakeSwap.

With over 130,000 daily users, it's easy to argue that PancakeSwap is the people's champion. Combine this popular platform with unique tokenomics, and you may have a long-term crypto play worth being in a diversified portfolio.

Let's dive deeper into the CAKE token and explore why you may want to give it a closer look.

About Crypto of the Week and my personal bias

There is no disputing we are in a bear market. And, it's worth noting that most altcoins do not outperform Bitcoin and Ethereum in bear markets. So, yes, there are outliers. But, generally speaking, investing in altcoins during a bear market is incredibly risky.

This series aims to provide ideas to keep an eye on or potentially wade into gradually. I own a small number of CAKE tokens and farm a liquidity pool on PancakeSwap, so I am somewhat biased. And while it's not a significant portion of my portfolio, CAKE is a crypto asset I am keeping a close eye on.

The Big Picture Thesis

Binance Smart Chain is not going anywhere. Unlike other chains that are shrinking during the bull market, BSC maintains about 9% of the total value locked in DeFi. More importantly, the chain has over 750,000 daily active users!