Thumbnail Source: https://www.securities.io/investing-in-pancakeswap-cake-everything-you-need-to-know/
PancakeSwap (CAKE), the native token of the Defi PancakeSwap, has gone up by more than 20% over the past 24h, reaching over $US40 to break its ATH (All-Time High).
Brief Analysis
From the beginning of 2021, CAKE has had a continuous rise from then until now, only experiencing one significant drop in February that recovered towards to end of March. After the crash, CAKE quickly gained momentum, striking upwards at an impressive rate. It is most likely that CAKE has done so successfully from the range of services it provides unbeaten by other BSC Defis. Although there are many other Defis in the BSC (Binance Smart Chain) that have the same purpose, PancakeSwap looks more like the original, backed by much higher support and popularity.
From the current trend, CAKE appears to continue its journey upwards, many people following the way. Both the price and market cap will boost from personal speculations based upon the brief view of the trend.
Statistics
At the current time of this post, CAKE has the following statistics:
- Price - ≈$43
- 24h Price Change - $6.98 (+19.40%)
- 24h low/ 24h high - $34.77/$44.02
- 24h Trading Volume - $1,106,464,983.84 (+90.08%)
- Market Rank - 22nd
Further Reading
If you would like to find out more about PancakeSwap in great detail, its services and more, visit its documentation here.
For a simple guide and general introduction, visit Binance Academy's article "A Guide to PancakeSwap" here.
For statistics and general features of CAKE, visit the CoinMarketCap listing here.