PancakeSwap is a decentralized exchange with an automated market maker (AMM) powered by the Binance Smart Chain blockchain. It allows people to buy and sell assets, as well as earn and win tokens. As a decentralized exchange, it also allows the creation of pools of liquidity with unlimited access on the blockchain, and is completely governed by automated algorithms. PancakeSwap features are improved performance and lower fees compared to DeFi projects based on the Ethereum blockchain.
CAKE is the platform’s own management token, which is issued in the BEP-20 standard on the BSC blockchain. It can be used in different ways: staking, buying lottery tickets, voting, and farming tokens.
To learn more about this cryptocurrency and understand how it looks on the market, let’s check the data from the Coinmarketcap service (as of 25/05/2021):
- САКЕ price: $17.27
- Market capitalization: $2,813,321,034
- Volume (24h): $609,632,804
- Circulating supply: 164,900,128.86 САКЕ
- Total supply: 164,900,129 САКЕ
- 24 Hour High: $19.32
- 24 Hour Low: $15.21
The project was launched on September 20, 2020. On the official website of the PancakeSwap platform, the developers have published their action plan for the future, which they will implement as far as possible. This plan serves users instead of the usual roadmap.
Here we see that almost all the points of the plan have already been fulfilled to date. But there are those that remain in development.
- CAKE will provide a rate discount on BSC and LP tokens lending and borrowing.
- The periodic buyback and burning of CAKE will occur when trading BSC tokens with leverage on the network.
- Users will have the opportunity to win non-fungible tokens (NFT) by completing various tasks, and then they can be exchanged for CAKE tokens.
- Users will also have the option of urgent (fixed-term) staking.
Such plans are very serious and make you think that the platform won’t stop in its development and will continue to delight its users with new opportunities.
Crypto community about the CAKE token
At the moment, the crypto community has a lot of discussions around the CAKE token. Many crypto enthusiasts believe in it, in its development and in the growth of prices in the near future. The CAKE token is among the most promising altcoins 2021:
But there are those who look at this cryptocurrency with caution and do not see such an optimistic future for it.
CAKE price prediction 2021
Here we have collected information for you from various services, which shows what CAKE price can be expected for 2021.
The TraidingBeasts service offers us the following price forecast for this cryptocurrency (as of 23/05/2021):
Minimum CAKE price for 2021: $11.52
Maximum CAKE price for 2021: $ 21.44
Average CAKE price for 2021: $15.39
Year-end CAKE price predictions 2021:
Minimum expected: $ 14.58
Maximum expected: $ 21.44
Average expected: $17.15
According to the information of the WalletInvestor service, we can see the following price forecast for the CAKE token (as of 23/05/2021):
Minimum CAKE price for 2021: $22.904
Maximum CAKE price for 2021: $75.57
Average CAKE price for 2021: $48.93
Year-end CAKE price predictions 2021:
Minimum expected: $55.246
Maximum expected: $75.57
Average expected: $65.37
Analysts of the DigitalcoinPrice service assume that the forecast for the price of this token for 2021 will be as follows (as of 23/05/2021):
Average CAKE price for 2021: $16.36
Average year-end CAKE price expected: $16.55
Average mid-end CAKE price expected: $16.45
The CoinPriceForecast service shows us the following estimated price prediction for 2021 (as of 23/05/2021):
Mid-year CAKE expected price: $10.84
End-year CAKE expected price: $19.75
As you can see from these indicators for 2021, the price of the CAKE token is promising.
PancakeSwap price prediction 2025
As far as we know, it is quite difficult to make a long-term price forecast of any cryptocurrency, since the course of events that can affect the price change is unpredictable. However, some services offer us an approximate long-term forecast of the CAKE token price. We invite you to take a closer look at its expected price in 2025.
Analysts of the CoinPriceForecast service suggest that by the middle of 2025 the token price could reach $ 38.02, and by the end of the year it could rise to $44.40.
But crypto experts of WalletInvestor service provide users with information that the price of this cryptocurrency may approach $358.96 by mid-2025. They believe in the potential of CAKE and think the approximate year-end price could be nearly $400.
The opinion of analysts on the DigitalcoinPrice platform is different, they believe that the price of the CAKE token will rise to about $35 by the end of 2025.
Historical price analysis
Every cryptocurrency has its ebbs and flows, and the CAKE token is no exception too.
All Time High: $44.18 (Apr 30, 2021)
All Time Low: $0.198 (Nov 03, 2020)
The CAKE token got out of the oven at a price near $1.37 just after PancakeSwap was launched in September and after some initial volatility it dropped and settled around the $0.25 level. After spending roughly two months there however it began climbing as the altcoin rally of 2021 picked up steam.
Nowadays, PancakeSwap is the second largest exchange in the decentralized finance space on the Binance Smart Chain blockchain and is used primarily for profitable farming and staking. It is also one of the most actively developing AMM protocols to date. The developers of PancakeSwap took the concepts laid down by Uniswap on the Ethereum blockchain and extended them, which, together with the low fees and high speed of the BSC blockchain, allowed it to quickly gain popularity. Placing it on the BSC blockchain makes it faster and cheaper than its Ethereum counterparts, which is partly the reason for its high appreciation.
SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.