PancakeSwap (CAKE) Pops 11.00% Today: What Should You Know?

PancakeSwap price today is $22.05 USD with a 24-hour trading volume of $365,778,399 USD. We update our CAKE to USD price in real-time. PancakeSwap is up 11.00% in the last 24 hours. The current Coin Market Cap ranking is #35, with a live market cap of $4,878,572,532 USD. It has a circulating supply of 221,227,106 CAKE coins and the max. supply is not available. CAKE is a proprietary token of the decentralized PancakeSwap exchange for the exchange of BEP20 tokens on the Binance Smart Chain. PancakeSwap uses an Automatic Market Maker (AMM) model in which users trade against a liquidity pool. Such pools are filled with user funds. They contribute them to the pool, receiving in return tokens of the liquidity provider (or LP). They can use these tokens to return their share plus part of the trading fees. LP tokens are called FLIP tokens. PancakeSwap also allows users to farm additional tokens-CAKE and SYRUP. On the farm, users can deposit LP tokens, blocking them in a process that rewards CAKE users. Users can bet on CAKE tokens to get SYRUP, which will have additional functionality as management tokens (and as lottery tickets).

Lora Nilsson

Finance and Business reporterAfter graduating high school. Lora decided to travel and blog as a part-timer. Today she enjoys what she loves and works remotely as our finance and business reporter

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