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PancakeSwap priceCAKE
PancakeSwap price calculator
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About PancakeSwap (CAKE)
What Is PancakeSwap?
PancakeSwap, a decentralized exchange (DEX) launched in September 2020. It is originally built on the BNB Chain and has expanded to Ethereum and Aptos. The platform was developed by an anonymous team known as the "Chefs". It facilitates the swapping of BEP-20 tokens, offering a user-friendly and efficient alternative to Ethereum-based DEXs. With a strong commitment to innovation and community engagement, PancakeSwap has cultivated a vibrant ecosystem, fostering a decentralized governance model where the community actively participates in shaping its future.
PancakeSwap operates in a decentralized manner, allowing users to trade directly from their wallets without the need for an intermediary. This not only ensures security but also reduces the fees associated with trades. The platform has witnessed exponential growth, with a significant increase in total value locked (TVL), showcasing its potential to revolutionize the financial landscape by offering a plethora of tools and features that cater to both novice and experienced traders.
Resources
Official Documents: https://docs.pancakeswap.finance/
Official website: https://pancakeswap.finance/
How Does PancakeSwap Work?
PancakeSwap utilizes an automated market maker (AMM) model, where users trade against a liquidity pool rather than directly with each other. These liquidity pools are funded by users who deposit their tokens into the pool, earning a share of the trading fees in return. This innovative approach to trading has democratized access to financial services, fostering a more inclusive and efficient trading environment.
The platform offers a diverse range of products including yield farming, syrup pools, and a lottery system, among others. Users can stake their LP tokens in farms to earn CAKE rewards or participate in syrup pools to earn other tokens. Furthermore, PancakeSwap has introduced features like a predictions market and an NFT marketplace, expanding its offerings and catering to a wide array of user preferences. These features, coupled with a community-driven approach to development, have positioned PancakeSwap as a frontrunner in the DeFi space.
What Is The CAKE Token?
The CAKE token, a native BEP-20 token of the PancakeSwap platform, serves multiple functions within the ecosystem. It acts as a governance token, allowing holders to participate in the decision-making process and shape the platform's trajectory. Additionally, CAKE is used as a utility token in various capacities such as purchasing lottery tickets and participating in initial farm offerings (IFOs). The recent update in its tokenomics introduced a cap on the maximum supply at 750 million, aiming to create a sustainable and vibrant ecosystem by incentivizing long-term staking and reducing the circulating supply.
PancakeSwap's Impact on Finance
PancakeSwap's innovative approach and rapid growth have significantly influenced the financial sector. By offering a decentralized platform that combines speed, security, and a wide range of features, it has democratized access to financial services. Its commitment to fostering inclusivity and innovation in the crypto space stands as a testament to the potential of DeFi, paving the way for a financial ecosystem that is transparent, efficient, and accessible to all, thereby leaving an indelible mark on the financial landscape.
What Determines PancakeSwap's Price?
The current PancakeSwap (CAKE) token price is influenced by various factors within the cryptocurrency market, making it a focal point of interest for both traders and investors. Firstly, market demand and supply dynamics play a significant role in determining the CAKE token value. When there's high demand for CAKE tokens but a limited supply, it's not uncommon to see the CAKE token price rise.
Additionally, the overall sentiment in the DeFi (Decentralized Finance) space can significantly impact CAKE's value. Positive news, partnerships, and developments within the PancakeSwap ecosystem often lead to bullish sentiment, potentially driving higher prices. This is why many individuals keenly follow the PancakeSwap (CAKE) latest news.
Traders and investors also closely monitor the technical analysis of CAKE's price chart to make informed decisions regarding their investments. Moreover, the CAKE token's market capitalization, representing its total value in the market, is a crucial factor watched by many market participants.
To predict future CAKE cryptocurrency price predictions, analysts often delve into historical data and price analysis, using various tools to craft reliable CAKE token price forecasts. Keeping an eye on the PancakeSwap (CAKE) price live can be a beneficial strategy for those looking to stay ahead in the ever-changing crypto market.
Conclusion
In conclusion, PancakeSwap has rapidly risen as a prominent decentralized exchange, offering a user-friendly and efficient platform for BEP-20 token swaps. With its community-driven approach, diverse product offerings, and the pivotal CAKE token, PancakeSwap is reshaping the DeFi landscape, making it more accessible and inclusive. Keep an eye on its dynamic CAKE token price and the latest developments, as PancakeSwap continues to leave a lasting impact on the world of cryptocurrency and blockchain.
PancakeSwap price performance in USD
PancakeSwap price history in USD
PancakeSwap market information
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How to buy PancakeSwap(CAKE)
Create Your Free Bitget Account
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Buy PancakeSwap (CAKE)
Trade CAKE perpetual futures
After having successfully signed up on Bitget and purchased USDT or CAKE tokens, you can start trading derivatives, including CAKE futures and margin trading to increase your income.
The current price of CAKE is $1.85, with a 24h price change of +9.83%. Traders can profit by either going long or short onCAKE futures.
Join CAKE copy trading by following elite traders.
PancakeSwap news
See moreBNB’s 29th token burn slashes supply by 1.77M tokens, enhancing scarcity and value. Strong resistance at $586 and $590 signals potential breakout for BNB price action. Support levels at $573 and $570 hint at consolidation amid a slight downward trend.
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PancakeSwap Social Data
In the last 24 hours, the social media sentiment score for PancakeSwap was 2.9, and the social media sentiment towards PancakeSwap price trend was Neutral. The overall PancakeSwap social media score was 9,542,264, which ranks 12 among all cryptocurrencies.
According to LunarCrush, in the last 24 hours, cryptocurrencies were mentioned on social media a total of 1,058,120 times, with PancakeSwap being mentioned with a frequency ratio of 0.18%, ranking 65 among all cryptocurrencies.
In the last 24 hours, there were a total of 6,649 unique users discussing PancakeSwap, with a total of PancakeSwap mentions of 1,884. However, compared to the previous 24-hour period, the number of unique users increase by 6%, and the total number of mentions has decrease by 0%.
On Twitter, there were a total of 116 tweets mentioning PancakeSwap in the last 24 hours. Among them, 0% are bullish on PancakeSwap, 3% are bearish on PancakeSwap, and 97% are neutral on PancakeSwap.
On Reddit, there were 83 posts mentioning PancakeSwap in the last 24 hours. Compared to the previous 24-hour period, the number of mentions decrease by 45% .
All social overview
2.9