Exchange of pancakes (CAKE) has become one of the most popular and influential cryptocurrencies. For example, CoinMarketCap named PancakeSwap the top trending cryptocurrency on March 16, 2022. Conversely, PancakeSwap was CoinMarketCap’s 57th largest cryptocurrency on March 21, 2022.
Impressively, PancakeSwap claims that its platform had three million users and processed 43 million transactions in the 30 days ending March 21, 2022. Additionally, PancakeSwap claimed to have $12 billion in value at stakeon March 21, 2022. PancakeSwap claimed to offer $4.5 billion in liquidity and a 24-hour market volume of $615.34 million on March 21, 2022.
In contrast, CoinMarketCap gave PancakeSwap a coin price of $6.59, a market cap of $1.822 billion, a fully diluted market cap of $4.506 billion, and a 24-hour market volume of $226.862 million. on March 21, 2022. They based these numbers on a circulating supply of 276.555 million CAKE.
Exchange of pancakes (CAKE) is a protocol and decentralized exchange (DEX) which allows users to buy, sell and trade tokens on the BNB Smart Chain or Binance blockchain.
The key feature of PancakeSwap is to allow users to swap Binance (BNB) for any other BNB Smart Chain token. PancakeSwap supports swaps by providing liquidity.
People can use PancakeSwap to swap tokens without registration or an account. They claim that PancakeSwap is the leading decentralized exchange on the BNB smart chain. Notably, users can trade directly on PancakeSwap through their wallets.
PancakeSwap users can earn CAKE with Yield Farming by staking LP tokens. They can also earn tokens through Syrup Pools. Users can earn trading fees with trading pairs.
For example, PancakeSwap Initial agricultural offers (IFO) which allows users to launch new tokens on the BNB smart chain. IFO speculators can engage in IFO sales and claim tokens. PancakeSwap users can receive an annual percentage yield (APY) from the tokens. Users can participate in IFO CAKE pools and IFO private sales. Users can claim tokens and achievements.
The IFO 3.1 format allows users to participate in new private sales. PancakeSwap users can participate in both public and private sales. They will charge a 0.5% fee on sales. The participation fee covers the token burn. Users must contribute approximately $10 worth of CAKE to public or private sales.
PancakeSwap users can win APY by providing liquidity through agriculture or stake cash on tokens. Additionally, PancakeSwap allows users to access Syrup Pools to Earn a High Annual Percentage Return (APR). Users can earn CAKE through Syrup Pools.
Exchange of pancakes (CAKE) also supports competitions including Binance Fan Token Trading contest that offered $120,000 in prizes. They award prizes by team and best traders.
Moreover, the PancakeSwap lottery offers $139,709 in prizes. Users who draw winning numbers can win prize pools through the lottery.
Moreover, they are Beta test of a prediction feature to bet on token prices. Ideally, the prediction feature allows users to earn money if they correctly predict the rise or fall of the BNB price in five minutes.
PancakeSwap’s NFT Marketplace allows users to buy and sell non-fungible tokens (NFT) on the BNB smart channel.
The marketplace allows users to trade individual NFTs and collections of NFTs. Users can create NFT Collections for sale.
I think Exchange of pancakes (CAKE) could gain huge value as it operates on the BNB smart chain.
BNB Smart Chain supports one of the largest and most popular cryptocurrencies Binance (BNB). Notably, CoinMarketCap named Binance the fourth largest cryptocurrency on March 21, 2022.
CoinMarketCap gave Binance a market cap of $65.620 billion, a fully diluted market cap of $65.620 billion, a coin price of $397.41, and a 24-hour market volume of $1.573 billion on March 21 2022. They based these numbers on a circulating supply of 165.117 million BNB, a maximum supply of 166.117 million BNB, and a total supply of 165.117 million BNB.
PancakeSwap itself offers some value. For example, CoinBase gave PancakeSwap (CAKE) a coin price of $6.59, a market cap of $1.8 billion, and a 24-hour market volume of $276.8 million on March 21, 2022. They based these numbers on a circulating supply of 276.7 million CAKE.
Consequently, I consider Exchange of pancakes (CAKE) an excellent speculative cryptocurrency as it grows as the crypto market grows. However, the reverse is also true; PancakeSwap contracts when crypto markets contract. Notably, Coinbase gives CAKE a record coin price of $44.18. PancakeSwap is a speculative token that is not for the faint of heart.