Market Cap
$510,899,187.3
Fully Diluted Valuation
$789,296,190.7
24 Hour Trading Vol
$178,509,706.0
Circulating Supply
291,278,023.4
Total Supply
379,207,513.8
Max Supply
450,000,000.0
PancakeSwap Price
$1.75
24h Range
$1.63 - $1.78
Percent Change 1h
-0.08%
Percent Change 24h
4.12%
Percent Change 7d
13.77%
All-time high
$43.96
All-time low
$0.194
1D
7D
1M
1Y
All
PancakeSwap is a decentralized exchange (DEX) built on the Binance Smart Chain (BSC) that allows users to swap various cryptocurrencies directly from their wallets. Launched in September 2020, it has gained significant popularity due to its low transaction fees, fast transaction times, and a user-friendly interface. PancakeSwap primarily operates using an automated market maker (AMM) model, where users provide liquidity in exchange for liquidity provider (LP) tokens and earn fees from trades executed on the platform. The native utility token of PancakeSwap is CAKE, which is used for various purposes, including governance, staking, and earning rewards.
PancakeSwap was launched by a team of anonymous developers who remain largely unknown to the public. This anonymity is common in the decentralized finance (DeFi) space, where many projects are developed by pseudonymous teams. The PancakeSwap team has, however, been active in maintaining and upgrading the platform, ensuring it remains competitive against other DEXs like Uniswap and Sushiswap. The project's development is community-driven, with input from users and liquidity providers shaping its roadmap.
PancakeSwap utilizes an automated market maker (AMM) system, which allows users to trade cryptocurrencies without a traditional order book. Instead, users can swap tokens directly using liquidity pools that are funded by other users. Here’s a breakdown of how it works:
PancakeSwap offers several use cases that make it attractive to users:
While PancakeSwap provides various opportunities, users should take steps to ensure their safety while using the platform:
Investing in PancakeSwap (CAKE) or any other cryptocurrency involves several steps:
1. Choose a Reliable Exchange: Select a reputable cryptocurrency exchange platform like Coinbase, Binance, or Okx. These platforms allow you to buy, sell, and trade cryptocurrencies.
2. Create an Account: Sign up for an account on your chosen exchange by providing the necessary personal information and completing the verification process.
3. Fund Your Account: Deposit funds into your exchange account using various methods like bank transfers, credit/debit cards, or wire transfers.
4. Buy PancakeSwap: Once your account is funded, you can purchase PancakeSwap directly from the exchange. Choose the desired amount and complete the transaction.
Botsfolio is a platform that automates cryptocurrency investments using trading bots. To invest in PancakeSwap using Botsfolio, follow these steps:
Botsfolio allows you to automate your cryptocurrency investments, potentially saving time and effort while optimizing your trading strategies.
PancakeSwap (CAKE) is currently trading at $1.75 and exhibits good potential for future growth. Check the latest PancakeSwap (CAKE) price prediction.
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