With decentralized finance (DeFi) rising, PancakeSwap, one of the largest decentralized exchanges (DEXs), has been at the forefront of the revolution. The future of the CAKE cryptocurrency will depend on the use of the PancakeSwap exchange. The value of the coin will also depend on sentiment on the broader crypto markets in the future, among other factors.
Once rated as the best performing DEX of 2021 it started its slide in August and it has continued to lose value in 2022. We shall first look at what PancakeSwap is and how it functions to get a clear picture of what investors should expect with the platform and its coin in the future.
The live PancakeSwap price today is $8.78 USD with a 24-hour trading volume of $269,057,657 USD. PancakeSwap is up 4.84% in the last 24 hours. The current CoinMarketCap ranking is #54, with a live market cap of $2,447,091,110 USD. It has a circulating supply of 278,834,589 CAKE coins If you are looking to buy or sell PancakeSwap, PancakeSwap (v2) is currently the most active exchange.
With recent developments, partnerships, and its interest in NFTs, the future of PancakeSwap looks promising d. Also, the team behind PancakeSwap aims to build more projects in 2022, which will boost its growth and adoption. Besides being the number one Automated Market Marker (AMM), it has also dived into the NFT space by rolling out Binance Smart Chain NFT projects.
PancakeSwap in The NFT Market
Cake launched its NFT market campaign in October 2021. However, this is the first step in the core of the PancakeSwap world. PancakeSwap achieved a huge volume on only one NFT collection at the time of the launch.
Also, PancakeSwap launched Pancake Squad in October. It is essential to know that Pancake Squad is a brand new generative collection of 10,000 different NFTs. Due to this innovation PancakeSwap’s NFT market trading volume increased to 102,208 BNB ($56.8M) in the same month, with 2,044 BNB used to buy back and burn Cake.
Lately, PancakeSwap has been spurring the growth of the NFT space by partnering with top NFT platforms. On October 27th, PancakeSwap partnered with DuelistKing. However, DuelistKing is the first generational NFT card game that wants to change how people play, participate, and earn in card games through top-notch gameplay, asset design, and advocacy for the sustainable future of Win2Earn. DuelistKing was the first Gamify project to launch on PancakeSwap, and it has achieved several milestones:
- DuelistKing completed its first NFT offerings with about 250,000 NFTs sold on PancakeSwap in less than 45 minutes.
- DuelistKing was scored as the first cross-chain NFT game built on BSC and Cardano and is officially supported by Fantom, Polygon, and Cronos.
In November 2021, PancakeSwap announced its partnership with a new pool known as BENQI. It is essential to understand that BENQI is a decentralized non-custodial liquidity market protocol on Avalanche, and it scales DeFi with a suite of yield-generating products. However, this partnership allows $CAKE holders to stake their tokens to earn $QI tokens.
PancakeSwap is also looking to add more Initial Farm Offerings (IFOs). In November 2021, it also added another GameFi project from Binance Launchpool — Mines Of Dalarnia ($DAR). In the $DAR IFO, about $842M worth of CAKE was committed to sales. Nonetheless, it shows how committed the PancakeSwap community is to GameFi projects.
Other IFO opportunities offered by PancakeSwap, apart from GAMEFI projects, include FC Porto (PORTO) and Santos FC (SANTOS) Fan Tokens.
Furthermore, 25 projects joined the Farm Auctions to bid for a coveted PancakeSwap farm pair. PancakeSwap is also working behind the scenes to improve its performance issues. It has partnered with Streamingfast, Gnosis, Helix, TradingView, and other providers to enhance its resilience against the scalability issues in the Binance Smart Chain network.T market, we might see $CAKE tokens surge in the future.
How is PancakeSwap Exchange different?
Whereas centralized exchanges like Coinbase and Binance (which was banned in the UK in 2021) are run by a single company, one can trade on a DEX without an intermediary. Like most decentralized finance (DeFi) activity to date, most DEXs are based on Ethereum. PancakeSwap, however, aims to compete with Ethereum by providing lower fees and faster transactions, among other features.
On 26 January it announced its latest Initial Farm Offering (IFO) format: IFO 3.1 “with the brand new private sale allocation, and the new IFO Syrup pool” which it adds will “address some of the issues raised by the community and also generate value for our NFT holders.”
As mentioned above, PancakeSwap is a DEX and an automated market maker (AMM) built on the Binance Smart Chain (BSC).
- It is the largest decentralized application (dApp) on the BSC, and it allows participants to switch tokens securely and effectively.
- It offers a decentralized business experience while leveraging liquidity pools. Some stake BEP 20 tokens in the liquidity pools of corresponding tokens, and some depend on the liquidity pools to swap one BEP 20 token for another.
- Those providing stake tokens or currency in the liquidity pools are referred to as liquidity providers, and they receive an interest depending on the number of tokens they stake in each pool.
- DEX has also included yield farming by allowing liquidity providers to stake Liquidity Provider tokens (LP tokens) in various LP token staking pools. This way, the liquidity providers earn an extra income in the form of LP staking rewards besides the interest earned for providing liquidity.
At the time of writing, the total value locked (TVL) on PancakeSwap was $5,553,354,984, according to Defistation.
PancakeSwap Price History
PancakeSwap was launched on September 20, 2020. Founders found it better to name it after their favorite food, the pancake. As an AMM, it does not depend on the presence of buyers and sellers to settle trades. Trades are processed automatically by a sophisticated algorithm using liquidity pools.
PancakeSwap was listed on an exchange almost immediately after PancakeSwap was unveiled.
When it was unveiled in September 2020, the cake price was below $1, and it stayed below $1 until towards the end of January 2021, when it unleashed a bullish rally that till the end of April 2021.
It hit an all-time high price of $44.18 on April 30, after which there was a bearish retracement to about $11 in May 2021. It then traded between $11 and $20 until mid-July, when it started another bullish trend that continued even when writing this post.
At the time of writing this post, the average CAKE price was $24.63, with a 24 hours volume of $407,098,371 after a day drop of 10%.
PancakeSwap price Ichimoku cloud formation indicates a bearish trend reversal with consolidation. The bearish price structure of the last few months has formed false lower support and new Ichimoku cloud highs began on December 16th.
The strong bullish momentum is also confirmed by the Kijun Sen (red line).
Pancakeswap Technical Analysis
Pancakeswap’s current price is $8.25. The cryptocurrency market today is rallying towards higher prices with Bitcoin up 5% rallying towards the $50,000 mark. The trading volume of Cake has also increased significantly with many traders taking Long positions.
The first announcement of the Pancakeswap mini-app launch on the Binance mobile app on 17th March, saw the price trend turn for the Positive, prices have been rallying since to date.
MACD chart shows Pancakeswap is currently in a highly volatile price position with increased trade volume and momentum. The MACD line has broken above the signal line showing prices could push higher but a correction is imminent soon.
William’s alligator chart below shows the alligator waking up from a sleeping position to a feeding position on 17th March after the mini app announcement launch on Binance. The trend lines are today clearly separated and prices could continue climbing in the short term.
The cryptocurrency market is green and buying prices could push higher.
The virtual currency market is highly volatile and traders should trend these waters cautiously.
Pancakeswap Price Predictions 2022-2030
Cryptonewsz suggests Pancakeswap cryptocurrency price will correct in October this year. Prices will average $10.8 and the maximum price level will be $11.5. Prices will shift between 10 and $15 in 2023. The bullish trend will continue into 2024 and 2025 with prices averaging $13.5 and $20 respectively. The further forecast will see Pancakeswap trade at $22 in 2026.
Walletinvestor ranks Pancakeswap at a C one-year investment. The price forecast for the next 14 days shows prices will continue to rise and correct on 4th April to $7.3354 before picking up momentum. Based on historical data, they predict ROI will be -92% in 2024, -97% in 2025, and –93%in 2026. The rain will continue beating the cryptocurrency into 2027 at -95%.
2022 will be a red year with -25% in ROI. 2023 will see the trend reverse and become profitable at 7%. Pancakeswap will remain predominantly positive in 2024 with an ROI of 47% with prices reaching the $12 to $19 range. Swapspace values Pancake higher for 2025 at 97%. Extrapolation into 2030 potential ROI will be 846% with prices reaching as high as $201.
Note: All amounts are in USD.
Cake Price Prediction 2022
Pancakeswap price has been rising through 2021 and began correcting in 2022. We anticipate the Pancakeswap price to trade higher at $9.01.
Cake Price Prediction 2023
While there are divergent opinions on future prices, we remain optimistic that prices will begin rising in 2023. The cake will trade at a mean price of $13.23 soaring ranging between $15.3 and $12.78.
Cake Price Prediction 2024
Pancake swap has a solid team and with all factors held constant, Pancakeswap will trade at an average price of $19.59, trading between a maximum price level of $22.13 and a minimum price of $19.06.
Cake Price Prediction 2025
As crypto gains access to more jurisdictions we anticipate Pancake through its partners such as Binance will see its user base grow, prices will increase an average of $28.19 trading between $32.62 and $27.41.
Cake price Prediction 2026
In 2026, the price of Pancakeswap will get at and pass its all-time trading high of $44.18. It will trade up to $46.92 and average $40.97.
Cake Price Prediction 2027
Prices will reach $61.88 in 2027, this might however be affected by possible crypto bans and restrictions by various jurisdictions. Prices will reach a high of $69.21 and a low of $59.83.
Cake Price Prediction 2028
Pancakeswap will reach its benchmark level of $100, prices will however correct and average $94.37.
Cake Price Prediction 2029
Hopefully, Web 3 will have been accepted by 2029 by the public. Pancakeswap will have established itself and might see a 50% increase in value from the previous year. Prices will average $137.10 and trade at a minimum of $132.8 and a maximum of $160.16.
Cake Price Prediction 2030
In 2030 Pancakeswap price will reach the $200 mark. It will sell for a high of $231.92, a low of $195.68 and at a mean price of $201.16.
Pancake swap Price Predictions by Industry Influencers
Pancakeswap has the largest user base of any dAPP with over 3 million users in the last month. Translating to over 41 million trades within the same period.
Pancakeswap is not done growing its ecosystem and earlier this month, they launched the first mini-app of its kind on the Binance mobile app. The move will see many CEX users move into the DEX, increasing liquidity, staking, and utility for the many tokens on the platform. You need to update your Binance app to the latest version to access this feature. It is easily accessible by scrolling down on the Binance app home page.
Ecoin finance V2 a decentralized payment platform launched on Pancakeswap earlier today.
With a large user base, Pancakeswap is attracting new clients and users every month.
Pancakeswap has had its prices rising this month mainly as a result of the rising number of new users trading volumes and the new partnership with Binance. Also, the rally of Bitcoin towards the $50,000 mark had also helped push the token price. Our forecast suggests Pancakeswap price will average $9.01.Pancakeswap has the largest user base of any DeFi project and this has attracted many partners. Factors held constant, Pancakeswap prices will continue to rise and average $28 by 2028.
FAQs about Pancakeswap token
Is good Pancakeswap a good Investment?
Pancakeswap is a good investment with its price to rise long-term.
Which wallet can store Pancakeswap?
Will Pancakeswap price hit $40?
The price of Pancakeswap has reached $40 before and it’s likely to get to that level in 2026.
What will be the price of Pancakeswap 10 years from now?
The price of Pancakeswap will be about $250, ten years from today.
Can you mine CAKE?
Unlike other food companies, the Pancake Swap Farm provides the liquidity needed for quick cash payouts. To farm this asset, a Binance Smart Chain account needs to be activated. Details can be found on the website.
Where can I buy Pancakeswap (CAKE)?
When buying CakeSwap (CAKE), the cryptocurrency exchange Changelly can be easily used to transfer money. The site is a safe way to buy cAKE online. If you have questions, please contact the Support Desk.
Will Pancakeswap price fall?
The Pancakeswap price could fall and correct before pushing higher.
Will Pancakeswap replace Bitcoin?
We believe this could be prevented soon.
Will Pancakeswap prices rise?
Pancakeswap cake prices will rise and trade at an average price of $9.01 this year.
Will Pancakepwap cake crash?
Pancakeswap is unlikely to crash
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.