There are both centralized and decentralized exchanges in the cryptocurrency market. PancakeSwap falls into the second category. It was based on the Binance blockchain and positioned itself as the main competitor to Uniswap, which runs on the Ethereum blockchain.
On PancakeSwap, users have the opportunity to exchange coins of the BEP-20 standard quickly. Without delving into the technical details, this platform works according to the model of an atomised market maker. That is, trading occurs directly in an open liquidity pool, where active users can lock their coins and receive interest in return.
In addition, users can participate in farming and receive CAKE tokens, which will be discussed in this article.
As of mid-September 2022, the CAKE crypto price is at $4,41. Crypto rates are volatile, and the more a project can show results in terms of partnerships and technology, the more likely its price will rise. Read what the experts say.
Pancake Crypto Price Prediction
According to PancakeSwap’s technical analysis and independent research, the CAKE crypto price prediction in 2023 is between $10 and $15. The average price is expected to be $12,5, higher than today. In 2023, PancakeSwap could encounter some resistance. However, it is not possible to say with certainty whether the next few years will be optimistic for this cryptocurrency based on the CAKE crypto price forecast. But even if the CAKE rate is known to be stable, the global economy may influence the PancakeSwap crypto rates.
CAKE is a popular crypto asset available on many credible crypto exchanges, including the largest in Europe, WhiteBIT. The platform offers up-to-date crypto rates and low fees for transactions. Registered users access loads of convenient trading tools and unlimited withdrawals. The platform allows buying crypto directly with a bank card, providing robust protection for users’ funds and data.