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PancakeSwap is a decentralized exchange running on Binance Smart Chain, with lots of features that let you earn and win tokens.
Like Uniswap is for Ethereum, PancakeSwap is for Binance Smart Chain. The difference is that it is much faster and way cheaper as it is built on BSC. PancakeSwap wants to maximize the feedback loop of earning, staking, and earning again and BSC’s superior speed and much lower transaction fees let them do this. This will definitely start affecting CAKE price.
Let us have a look at some of the feature of PancakeSwap.
Trading
PancakeSwap is an Automated Market Maker (AMM) that allows two tokens to be exchanged on the Binance Smart Chain.
Earn
You can earn CAKE with yield farms, earn CAKE with Staking, and earn even more tokens with Syrup pools. You can click on the links above to view details of the same.
Win
PancakeSwap has a lottery system which rewards its users with big wins through a PancakeSwap Lottery daily. You can find more details about the same here.
Let us review CAKE Price.
CAKE/USD – Price Prediction
CAKE has broken the resistance at $18.98 and created a new All Time High after retracing back to the lower fibs. As long as CAKE stays above $18.98, we could start seeing a move towards $22.75, $24.77, $30.60, $40.03 and $49.49. Failure to hold the support at $18.98 could lead to a drop towards $17.08 and $15.34.
CAKE is trading at $20.70 with a market cap of $ 3,082,923,982. Its 24 hour trading volume was $ 824,006,175.
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Images courtesy of TradingView.
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