Binance Adds CAKE to Proof of Reserves

Binance just expanded its Proof of Reserves (PoR) system by adding CAKE, the token powering PancakeSwap, pushing the total supported cryptocurrencies to 50. This move reinforces transparency, letting users verify 1:1 asset backing directly on the platform— a critical step amid ongoing crypto market volatility and calls for stronger exchange accountability over the past year.

Zooming into the CAKE 4h chart, price action holds firm in a bullish structure at $1.57, grinding against the upper Bollinger Band resistance at $1.58 while the MACD flashes a golden cross at 0.02, signaling fresh upward conviction. With RSI steady at 66.75 in neutral territory—avoiding overbought pitfalls—and the EMA50 at $1.51 acting as immediate support above the EMA200 at $1.48, we're eyeing confluence for a potential thrust higher if volatility bands expand, though a quick dip to test that 50-EMA could flush out weak hands before resuming the trend, especially as Bitcoin (BTC) momentum spills over into DeFi plays like this.