Always hovering between 2.2 and 3.9

cake, Binance's favorite, with an annual profit of 120 million, a market value of 800 million, and profits used for buybacks and deflation. In the second half of this year, 7% will be destroyed through deflation.
On-chain users number in the millions, stronger than some smaller exchanges.
I have an analysis in my article.
cake sees 10u, then looks at 20u