PancakeSwap (CAKE) Pops 4%: What’s Going On?

For today, the price for PancakeSwap crypto is making up $19.89 along with the market capitalization of $4,472,920,788. During the last 24 hours, the price of the token has changed from $19.12 moving upwards on the chart to $19.89, making a 4% increase. Today, crypto has reached its peak at $20.08 with the lowest point at $18.65. Currently, PancakeSwap’s Market Cap Rank is #43. It has a circulating supply of 224,486,061 when the total supply is infinite.
PancakeSwap is an automated market maker (AMM) — decentralized finance (DeFi) application that allows users to exchange tokens, providing liquidity via farming and earning fees in return. To learn more about this project, check out our deep dive of PancakeSwap.It launched in September 2020 and is a decentralized exchange for swapping BEP20 tokens on Binance Smart Chain. PancakeSwap uses an automated market maker model where users trade against a liquidity pool. These pools are filled by users who deposit their funds into the pool and receive liquidity provider (LP) tokens in return. These tokens can later be used to reclaim their share of the pool, as well as a portion of the trading fees.