ChainCatcher message display, stimulated by news from the second batch of Binance Alpha projects, Cakepie (CKP) saw its price soar over 80% in a short time, currently quoted at $11.73. This price fluctuation has attracted widespread attention in the market, with investors turning their eyes to on-chain data analysis in hopes of better understanding the reasons behind this phenomenon.

First, the price volatility of CKP may be related to the market's positive expectations for the Binance Alpha project, with investors confident in the project's potential. Second, on-chain data analysis shows that CKP's trading volume significantly increased after the news was released, indicating heightened activity among market participants. Finally, changes in market capitalization rankings also reflect a reevaluation of CKP by the market, which is worth continuous attention.