Differences between Investing vs Trading
Differences between Investing vs Trading
PancakeSwap is a decentralized exchange that is built on the Binance Smart Chain. Founded in 2020 by a group of anonymous developers, the PancakeSwap exchange is designed to facilitate open-access token exchanges.
It works in a similar way to Ethereum's SushiSwap network, in that users can farm their own liquidity provider tokens. However, PancakeSwap uses an automated market maker system, in which users trade against an existing liquidity pool, rather than being matched with other users via a traditional order book.
The network also allows users to win NFTs, enter crypto lotteries, and farm its native token, CAKE. PancakeSwap has a massive community of users, and the PancakeSwap coin has rapidly emerged as one of the most prominent cryptocurrencies in the world.
Since the founders of PancakeSwap have gone to great pains to keep themselves anonymous, there are a few knowledge gaps in this history of the CAKE coin. We know that there are around 125 million coins in circulation, which is actually lower than most other major currencies right now.
However, no one knows how many coins there actually are and what the limit is. The market cap of PancakeSwap has been relatively high since it first took off, and has veered between $100 million and more than $1 billion. This latter figure was reached during its all-time-high coin price of $42, which was briefly reached in April 2021.
Since then, its peaks and troughs have widely mirrored those experienced by other cryptocurrencies in this highly speculative market, and the price of CAKE has languished below $10 per coin throughout 2022 thus far.
PancakeSwap fits the textbook definition of a stablecoin, and many investors take the long view that the network and its tokens have long-term potential in the wider economy and Web 3.0. PancakeSwap is backed by Binance, one of the largest exchanges in the world, and it offers a level of security that few other exchanges come close to.
For day traders, there is still plenty of volatility to take advantage of in intraday trading. However, the volatility of PancakeSwap coin is generally a lot lower than other coins, especially memecoins such as Doge and Shiba Inu.
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* The spreads provided are a reflection of the time-weighted average. Though Skilling attempts to provide competitive spreads during all trading hours, clients should note that these may vary and are susceptible to underlying market conditions. The above is provided for indicative purposes only. Clients are advised to check important news announcements on our Economic Calendar, which may result in the widening of spreads, amongst other instances.
The above spreads are applicable under normal trading conditions. Skilling has the right to amend the above spreads according to market conditions as per the 'Terms and Conditions'.
How to trade Cake coin?
Cake coin is a relative new cryptocurrency that can be traded on several exchanges and CFD platforms. The cake coin price is determined by the market supply and demand and can be bought and sold for other cryptocurrencies or for fiat currency being Cake USD the most popular trading pair.
When was Cake coin released?
Cake coin was released on the decentralized finance platform pancakeswap in September 2020 as a utility token that can be used to stake and earn rewards on the pancakeswap platform. It has been volatile since its release, but it has generally trended upwards.
What is the future of Cake coin?
Pancakeswap future holds much potential due to the growing popularity of decentralized finance. Due to the rising demand for cake coin and other utility tokens, many experts have optimistic projections. Even while the price of cake coins fluctuates in the near term, they seem to have very promising long-term prospects, though this will depend on the future of cryptocurrencies as a whole.
Why Trade [[data.name]]
Make the most of price fluctuations - no matter what direction the price swings and without capital restrictions that come with buying the underlying crypto asset.