For those who locked their CAKE like me to only see the market fall 30% thereafter, keep looking up. Here are some optimistic thoughts from a fellow CAKEr.
Check out the First Half of Silver Lining (my DCA from APY has fallen almost .75 cents from early May)
For the second half of the silver lining, look no further than the recent investment by Binance into PancakeSwap. I haven't seen much talk about it other than it happened this week but the news is encouraging.
It tells me that we are close to the bottom, not necessarily for the market as a whole, but for CAKE. The largest global crypto exchange now has a vested interest in seeing CAKE do well. The reason I invested in CAKE initially is for the simple fact that when the economies of the world do pick back up, and they will after this bear market, crypto in general will be on the minds of investors. This will lead them to an exchange like Binance (giving exposure to PCS) or directly to PCS – win/win.
Another piece of positive news is that France gave regulatory approval to Binance last month. Again, with a vested interest in PCS, this will only bring exposure to the French market and to Europe in general. On a much smaller note, they also are now approved to be used in Idaho… meaning the US markets, as slow as they may be, are still moving forward with state approvals to use the exchange.
Binance CAKE article
Binance and France
Binance in Idaho
With all of this said, when the markets are down there isn't much we can do but wait it out. However, if there are more positive advances in regulatory approvals or additional investments from leading companies, when it does turn we will be well positioned! By that time, we will also be closer to the deflationary point of the token which again, only adds fuel to the fire.
What do you all think?