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What Is the PancakeSwap price prediction today
AT A GLANCE
- In 2024, PancakeSwap price is expected to reach $5.577564441353367, according to some experts
- 2025 promises to be turbulent, with prices ranging from $0.049510988700419575 to $9.184389446761877, with WalletInvestor predicting a breakthrough leading to a price rise to $9.184389446761877
- By 2030, CAKE price can hit $5.577564441353367
PancakeSwap fundamental analysis
PancakeSwap is a popular decentralized open-source platform for crypto trading with the biggest ever number of users, that have entrusted it with over $12 billion in funds. The platform allows trading any assets on Binance Smart Chain right after connecting the wallet. It was launched in September 2020 by the anonymous team. In less than a year it became the dominant DEX on Binance Smart Chain.
PancakeSwap is also an automated market maker and a decentralized finance application providing liquidity via farming and earning fees in return. As an automated market maker PancakeSwap doesn’t have order books, bid system, limit, and market orders. Users trade against the liquidity pool. The users deposit their funds, thus filling the liquidity pool and receiving the liquidity provider tokens as a reward. On the farm, users can deposit LP tokens and receive rewards in CAKE.
The platform offers a wide variety of features and can be considered a complete DeFi ecosystem. It can be accessed through one of the supported Web3 wallets, for example, Wallet Connect or TrustWallet.
PancakeSwap is funded by the Treasury wallet, where 15% of all the generated fees is allocated. According to the official documents, the funds can be used for any purposes related to the project development and the maintenance of the platform.
The platform is powered by the native utility token — CAKE. It is a BEP-20 token and was initially launched on Binance Smart Chain. CAKE is used across the ecosystem for yield farming, staking, platform governance through its own governance portal, and participation in the PancakeSwap lottery.
The supply of CAKE tokens is not hard-capped and theoretically is unlimited. The team plans to burn the tokens regularly to make deflation higher than emission. The coin is avialable on the major centralized and decentralized exchanges.
PancakeSwap live price chart
In 2021 CAKE token was gaining value from the very beginning of the year. Following the bullish trends of the crypto market, it hit an all-time high of $44.18 on April 30. Till the end of May, the price was under the correction and reached $15.74.
After that, along with the main cryptocurrencies CAKE price chart started to decline even more. In two months (from the end of May till the end of July) token lost around 50% of its price. CAKE started to recover from July 28 and by August 26 reached the price of $26.
After the market correction, the asset stabilized the price around the level of $19. Unlike most of the crypto that skyrocketed in September-October, CAKE was continuously losing in value. In mid-November, the coin was traded for $11.6. In a month CAKE gained some value with the price reaching $13, but from the end of 2021, the price chart started to decline again. During the last week, the token fell to $8, which is far below its ATH.
Most of the experts see the bearish tendencies in the CAKE price chart and expect tokens to lose in price even more. But most of the agreement that in a long prospective the coin has chances to recover and even increase in price.
PancakeSwap technical analysis
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PancakeSwap price prediction
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PancakeSwap price prediction for 2024
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PancakeSwap price prediction for 2030
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About SwapSpace
SwapSpace is a cryptocurrency exchange aggregator that allows to swap over 2000 cryptos with both fixed and floating rates. We gather the rates of major crypto exchanges on the market onscreen and let our users compare and choose whatever option they like the most. We don’t add any fees over the partners’ rates, which makes the exchanges via SwapSpace profitable. The exchange time is no longer than at any of our integrated services starting from 10 minutes. SwapSpace support works 24/7.Exchange your crypto now
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