• PancakeSwap (CAKE) is a decentralized finance (DeFi) protocol and automated market maker (AMM) launched in 2020.
• CAKE currently ranks 98th on CoinMarketCap in terms of its market capitalization with an all-time high of $44.18.
• The bullish CAKE price prediction for 2023 is $2.488 to 4.784, while the bearish CAKE price prediction for 2023 is $1.003.
What Is PancakeSwap (CAKE)?
PancakeSwap (CAKE) is a decentralized finance (DeFi) protocol called an automated market maker (AMM). It enables users to trade tokens, leasing out liquidity in exchange for commissions and was launched in 2020 as a decentralized exchange for trading BEP20 tokens on Binance Smart Chain. With PancakeSwap, users can trade against a liquidity pool using an automated market maker methodology and receive additional tokens – CAKE and SYRUP – by depositing LP tokens and filling liquidity pools. This exchange also offers token swaps, liquidity provision and farming, staking perpetual trading, lottery, NFT marketplace, and launchpad features to its users.
Current Market Status Of PancakeSwap (CAKE)
PancakeSwap(CAKE) currently ranks 98th on CoinMarketCap in terms of its market capitalization with current price at $1.64 24 – Hour Trading Volume at $22,604,504 24 – Hour Price Change 0.48% down Circulating Supply 198,876,805 All – Time High at $44.18 which was recorded on April 30 2021
The Bullish And Bearish CAKE Price Prediction For 2023
The bullish CAKE price prediction for 2023 is between the range of $2.488 to 4.784 while the bearish CA