Are Decentralized Exchange Tokens Uniswap (UNI) and PancakeSwap (CAKE) Worth Your Penny?

Decentralized exchanges are attracting more attention lately. Uniswap (UNI) and PancakeSwap (CAKE) remain investors' top two choices regarding DEX platforms due to their ease of use. Are DEX native tokens worth your money? Let's find out. Before we jump in, The Hideaways (HDWY) is our analyst's top pick for the best cryptocurrency of 2023.

Timeline of Pancakeswap, Uniswap

Uniswap price analysis shows a bearish trend that has brought the UNI/USD value down to $6.34. The market had a breakout to the upside that found resistance at $6.43, which caused the market to roll over and head back down.

The crypto space appears to be gaining traction, as most assets are painted green. The global crypto volume has increased by more than 21%, assisting the BTC price to re-enter the $20,000 range. Meanwhile, a couple of altcoins appear to have a high probability of going long in the next 24 to 48 hours.

PRESS RELEASE. Digital currency made splashes in the 2010s with a promise of decentralization and ultimate user privacy. However, most well-known crypto exchange giants, like Binance or Coinbase, are CEXs by essence. It means they are centralized exchange platforms, offering custodial wallets to users and collecting user data.

A bit of CAKE was recently taken off the menu but was it enough to cause a scramble for the remaining amount? PancakeSwap announced that it recently burned slightly over 6.8 million CAKE, slightly lowering the circulating supply.

Uniswap price analysis for October 17th, 2022, reveals the market following a complete bullish movement, obtaining significant positive momentum, signifying a gain of positivity for the UNI market.

Uniswap [UNI], one of the largest decentralized exchanges, collected the highest amount of fees in the last three months. However, the collected fees failed to translate into revenue.

Uniswap price analysis reveals a bearish trend, as a steady decrease in price has been detected today. The most recent analysis shows that the cryptocurrency is covering the range downwards again as the selling pressure has returned in the market.

Uniswap is not looking good right now. UNI, the governance token of the decentralized exchange platform bearing the same name, must be able to muster enough energy to regain momentum and hit its target.

Since the dawn of the Internet, there has been a race to adopt new technologies and platforms that can make individuals and organizations wealthy. In recent years, we have seen Amazon, Facebook, and Google become some of the richest companies in the world. They have also made their shareholders very wealthy.

Cryptocurrencies have been suffering higher volatility since the bear took control. For example, the fledgling crypto coin Bitcoin price plummeted to a low of $18,363 on Oct 13 and then reversed to $19,354 today.