PancakeSwap and Google Cloud Unite: Altcoin Price Rises

PancakeSwap (CAKE), a decentralized trading platform partnership With Google Cloud to ensure the availability and reliability of your infrastructure.

As the demand for decentralized finance (DeFi) grows, PancakeSwap aims to provide a user-friendly platform for users to trade their assets without intermediaries.

Pancake Swap and Google Cloud Collaboration

In addition, PancakeSwap leverages the Google Kubernetes engine to quickly and accurately predict traffic spikes to its nodes with the help of Disnix’s PredictCube solution.

Disnix’s PredictCube solution helped PancakeSwap to accurately predict traffic spikes and automate the up-down scaling of blockchain nodes ahead of time to manage anticipated traffic growth. This approach ensured that PancakeSwap’s infrastructure could handle a fluctuating number of requests with high scalability while maintaining an uptime of 99.99%.

Disnix says that their PredictCube solution accurately predicts traffic spikes on PancakeSwap more than 90% of the time. By automating the top-down scaling of nodes, PancakeSwap managed the anticipated traffic growth and reduced its infrastructure costs by more than 30%.

One of the key challenges for any trading platform is ensuring the security of smart contracts. PancakeSwap works with various audit firms to identify potential flaws and leverages Cloud Armor to filter out sensitive data.

With its smart contracts secured, PancakeSwap aims to expand its services by adding more on-chain and exploring non-fungible tokens (NFTs).

Furthermore, to improve the trading experience for users, PancakeSwap plans to leverage BigQuery to manage and analyze historical blockchain data. By simplifying complex data, PancakeSwap aims to make blockchain trading accessible to everyone.

With Google Cloud’s fully managed services, PancakeSwap’s engineers can focus on developing new features and improving the user experience instead of dealing with infrastructure issues. Chef Jojo, Technical Lead at PancakeSwap, said:

At one point, we had over a billion requests on the BNB chain, but this is changing all the time due to changes in the BNB network, among other variables. With Google Kubernetes Engine, we can scale up quickly when there are many requests.

Google Cloud Boosts Cake Token Value

Pancakeswap’s native token, CAKE, has seen a 3.9% increase in value within the past 24 hours following the announcement of a partnership with Google Cloud.

Currently, CAKE is trading at $1.517 after having ranged between $1.454 and $1.481 for the past four days. The partnership with Google Cloud has given CAKE the much-needed momentum to break out of this cap and continue its upward trend.

However, CAKE is now facing an important resistance level at $1.525, which has not been crossed since July 6th.

Pancakeswap, on the other hand, currently has a market cap (circulating) of $327.94M, showing a decrease of 1.10% in the last 24-hours. Meanwhile, its fully diluted market capitalization stood at $1.13 billion, showing a decline of 5.73%.

According to statistics From Token Terminal, PancakeSwap’s revenue in the last 30 days is $1.41 million, representing a decrease of 31.55% from the previous period. Similarly, its annual revenue is $17.11 million, showing a decrease of 39.79%.

Furthermore, Token Terminal highlights that PancakeSwap’s total value locked (TVL) currently stands at $1.22 billion, representing a decline of 4.73% over the past 24 hours. On the other hand, the trading volume (annualised) of the platform stood at $48.50 billion, showing a decrease of 25.66% from the previous period.

The data also shows that PancakeSwap’s P/S ratio (fully diluted) stands at 64.25x, representing growth of 38.0%. Meanwhile, its P/F ratio (fully diluted) is 21.71x, representing growth of 38.8%.

Featured Image from Unsplash, Chart from Tradingview.com