Long
BURGERSWAP
I usually stick to TA with my crypto trades, but recently I've been really trying to sniff out some big winners in exchange tokens; given BNB, FTX, etc.
Coinbase shun a light on the fact that exchanges really are the shovels and buckets to the crypto gold rush.
Therefore, I began looking at DEX, rather than CEX, because I feel CEX has already pumped quite hard.
This is not true however for CAKE and BURGER, the largest DEXs on the BSC, by volume, over the preceding 24 hours.
I looked at the chart and it looks like we are breaking out, based purely on the chart alone, +300% is possible.
But from an FA perspective, BURGER has the 3rd highest volume, but is 9th in market cap.
CAKE also has the highest volume, with a 25% market share, but has a market cap 6 times less than Uniswap.
So decided to take a position and share with you to make your own mind about whether this is something you'd like exposure too.
I've posted the chart on twitter if you want to check out the volume vs market cap analysis > @Finance_Goku
I'll be monitoring the volume on the exchange for the remainder of the week, to ensure it keeps up $$$ and isn't a passing blip.
GLHF.
Coinbase shun a light on the fact that exchanges really are the shovels and buckets to the crypto gold rush.
Therefore, I began looking at DEX, rather than CEX, because I feel CEX has already pumped quite hard.
This is not true however for CAKE and BURGER, the largest DEXs on the BSC, by volume, over the preceding 24 hours.
I looked at the chart and it looks like we are breaking out, based purely on the chart alone, +300% is possible.
But from an FA perspective, BURGER has the 3rd highest volume, but is 9th in market cap.
CAKE also has the highest volume, with a 25% market share, but has a market cap 6 times less than Uniswap.
So decided to take a position and share with you to make your own mind about whether this is something you'd like exposure too.
I've posted the chart on twitter if you want to check out the volume vs market cap analysis > @Finance_Goku
I'll be monitoring the volume on the exchange for the remainder of the week, to ensure it keeps up $$$ and isn't a passing blip.
GLHF.
Finance_Goku
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