What Is PancakeSwap?
PancakeSwap is a decentralized exchange (DEX) built on the BNB Smart Chain. Similar to Uniswap and SushiSwap, it facilitates peer-to-peer trading with a key distinction: PancakeSwap specializes in BEP20 tokens native to BNB Chain rather than Ethereum's ERC20 standard. The platform's governance token, CAKE, enables users to stake in liquidity pools and earn rewards.
👉 Explore top DeFi tokens like CAKE
Current CAKE Token Metrics (2024)
- Price: $2.27 USD (24h change: −1.33%)
- Market Cap: $784.22M
- 24h Trading Volume: $71.05M
- Circulating Supply: 366.93M CAKE
- Max Supply: 450M CAKE
Historical Performance
| Timeframe | Price Change |
|---|---|
| Last Week | +6.24% |
| Last Month | −3.89% |
| Last Year | +12.55% |
All-Time High: $47.69 (April 30, 2021)
All-Time Low: $0.00023 (September 29, 2020)
Why Invest in CAKE?
- BNB Chain Integration: Lower transaction fees vs. Ethereum-based DEXs.
- Yield Opportunities: Stake CAKE in syrup pools for passive income.
- Governance Rights: Holders influence platform upgrades.
👉 Secure CAKE via trusted exchanges
Technical Analysis Outlook
- Daily: Neutral signal
- Weekly: Buy signal
- Monthly: Sell signal
- Volatility: 3.45% (24h)
FAQs
How do I buy CAKE safely?
Purchase through reputable exchanges like Binance or Kraken. Always verify contract addresses to avoid scams.
What drives CAKE's price?
Factors include:
- BNB Chain adoption
- DeFi market trends
- PancakeSwap platform updates
Is CAKE a good long-term investment?
While CAKE offers staking rewards, its inflationary max supply may impact long-term valuation. Diversify your portfolio accordingly.
Market Tools
- Track trends with crypto heatmaps
- Analyze top gainers/losers
Disclaimer: Crypto investments carry risk. Conduct independent research before trading.
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