CAKE
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Ethereum Price Prediction Market Launches on PancakeSwap with AI
With the 2024 US presidential election approaching, crypto prediction market PolyMarket is seeing a surge in activity. Meanwhile, PancakeSwap has announced the launch of an Ethereum price prediction market, incorporating AI for enhanced accuracy.
On Wednesday, decentralized exchange PancakeSwap introduced a new prediction market that lets users bet on Ethereum's price movements. These predictions will be guided by AI, adding a fresh twist to the platform.
"We're always exploring ways to create unique experiences for our users,” said PancakeSwap’s product manager Chef Gyoza. “Adding AI to prediction markets was a logical next step."
The new prediction market is based on Arbitrum and allows users to forecast ETH price changes every 10 minutes. Correct predictions will be rewarded from a 60,000 ARB prize pool (about $49,600), distributed over the next nine weeks.
PancakeSwap has partnered with decentralized AI network provider Allora, whose AI has shown 65% accuracy in testing. This launch coincides with heightened activity on PolyMarket and the anticipated launch of Ethereum spot ETFs in the U.S.
PolyMarket, the world's largest prediction market, supports a wide array of wagers and has seen record trading volume and active users. In June, PolyMarket achieved a record $93.55 million in monthly trading volume with 26,560 active users. The top prediction market currently revolves around the 2024 US presidential election, with over $185 million bet so far. Odds give Donald Trump a 60% chance of winning and Joe Biden 34%.
"Prediction markets gain significant attention around U.S. presidential elections due to their ability to focus market mechanisms on specific events,” said Allora co-founder Nick Emmons. “They're powerful tools for aggregating collective knowledge, especially when elections capture widespread attention."
#CAKE #cake $CAKE #US_Inflation_Easing_Alert #VanEck_SOL_ETFS #altcoins
With the 2024 US presidential election approaching, crypto prediction market PolyMarket is seeing a surge in activity. Meanwhile, PancakeSwap has announced the launch of an Ethereum price prediction market, incorporating AI for enhanced accuracy.
On Wednesday, decentralized exchange PancakeSwap introduced a new prediction market that lets users bet on Ethereum's price movements. These predictions will be guided by AI, adding a fresh twist to the platform.
"We're always exploring ways to create unique experiences for our users,” said PancakeSwap’s product manager Chef Gyoza. “Adding AI to prediction markets was a logical next step."
The new prediction market is based on Arbitrum and allows users to forecast ETH price changes every 10 minutes. Correct predictions will be rewarded from a 60,000 ARB prize pool (about $49,600), distributed over the next nine weeks.
PancakeSwap has partnered with decentralized AI network provider Allora, whose AI has shown 65% accuracy in testing. This launch coincides with heightened activity on PolyMarket and the anticipated launch of Ethereum spot ETFs in the U.S.
PolyMarket, the world's largest prediction market, supports a wide array of wagers and has seen record trading volume and active users. In June, PolyMarket achieved a record $93.55 million in monthly trading volume with 26,560 active users. The top prediction market currently revolves around the 2024 US presidential election, with over $185 million bet so far. Odds give Donald Trump a 60% chance of winning and Joe Biden 34%.
"Prediction markets gain significant attention around U.S. presidential elections due to their ability to focus market mechanisms on specific events,” said Allora co-founder Nick Emmons. “They're powerful tools for aggregating collective knowledge, especially when elections capture widespread attention."
#CAKE #cake $CAKE #US_Inflation_Easing_Alert #VanEck_SOL_ETFS #altcoins
Chart Analysis of #CAKE completed the rounding bottom formation on daily chart🧐
Full send if we do break out and confirm the pattern.
#Binance #crypto2023 #bitcoindifficulty
Full send if we do break out and confirm the pattern.
#Binance #crypto2023 #bitcoindifficulty
Perfect as usual...#CAKE price dumped following the market...important area to watch from 3.65 to 3.63 USD...even though I expect to see the price reaching my yellow area #pancakeswap #Binance #crypto2023 #cryptotrading
#CAKE keeps moving sideways within accumulation area I marked....soon we will see the direction #trading #tradingStrategy #Binance #pancakeswap
Keep an eye on #CAKE chart.....breakout is coming...I like this coin, one of my favs for sure. And don't forget it is backed by #Binance #tradingStrategy #trading #crypto2023
Everybody Loves CAKE
on DAILY: Left Chart CAKE has been stuck inside a big range between the 3.0 support and 5.0 resistance.
Now #CAKE is approaching the lower bound / support zone so we will be looking for buy setups on lower timeframes.
on H4: Right Chart CAKE is bearish from a short-term perspective trading below the red trendline.
🏹 Trigger => for the bulls to take over, we need a new high to form and then a break above the upper red trendline and red zone. Meanwhile, until the buy is activated, CAKE can still trade lower till the 3.0 - 3.2 support zone .
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Now #CAKE is approaching the lower bound / support zone so we will be looking for buy setups on lower timeframes.
on H4: Right Chart CAKE is bearish from a short-term perspective trading below the red trendline.
🏹 Trigger => for the bulls to take over, we need a new high to form and then a break above the upper red trendline and red zone. Meanwhile, until the buy is activated, CAKE can still trade lower till the 3.0 - 3.2 support zone .
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck! All Strategies Are Good; If Managed Properly! ~Rich
