What is PancakeSwap?
Pancakeswap Food theme based Decentralized Exchange (DEX) Platform running on Binance Smart Chain. PancakeSwap become one of the most popular BEP20 token platform that support AMM i.e., Automated Market maker. Platform offer same staking or yield farming mechanism that allow user earn platform official token for staking different token. PancakeSwap will having similar theme as Sushiswap Exchange platform but they use different blockchain.
There are several reasons behind BSC implementation is to have higher number of transactions per second, as we know Ethereum Blockchain facing scalability problem. BSC also maximize earning through staking and its also charges very low transaction fees.
PancakeSwap has different approach while swapping token where there is no order book instead user will trade against liquidity pool. however, user will deposit in pool and then receive LP token as rewards from liquidity providers. Platform introduced lottery system with ticket where user has to buy ticket to win competition. IFO is newly fund-raising program known as initial farm offering that supported by platform, where new project will be listed and user can participate in it.
PancakeSwap Price Prediction
|Month & Year||CAKE Price Prediction|
|All-time high||$1.62 USD|
|Exchange Platform||Pancakeswap, Binance, BKEX, Bithumb, Hotbit|
Cake Price Analysis
Cake price started climbing since November 2020, as it was raised from $0.25 USD to $1.62 USD with almost 500% price change. Cake is secondary token of pancakeswap platform, as user need to stake cake token to get Syrup token. in order to earn Cake Token user, need to stake Liquidity Pool Tokens. Cake following bullish trend since last year and expected to continue momentum for rest of year 2021.
Will Cake hit $10 USD?
Expected after 2022.
Is PancakeSwap a Good Investment?
Platform cross $300 million locked value in pool and at global level project very close enter into top 100 crypto list.
PancakeSwap one of the most successful project running of Binance smart chain. as it was launched by Binance Launchpool program along with Burgerswap. Other project has not able to make that much impact comparing Pancakeswap but this project already complete two IEO of new project. looking at market volume and asset locked volume PancakeSwap with BNB pool gaining popularity and expected to cross $500 million in future.