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CAKE

PancakeSwap (CAKE) Project Overview + Targets (245%)What Is PancakeSwap (CAKE)? PancakeSwap is an automated market maker (AMM) — a decentralized finance (DeFi) application that allows users to exchange tokens, providing liquidity via farming and earning fees in return. 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. These LP tokens are known as FLIP. PancakeSwap also allows users to farm additional tokens such as CAKE and SYRUP. On the farm, users can deposit LP tokens and get rewarded with CAKE. PancakeSwap allows users to trade BEP20 tokens, provide liquidity to the exchange and earn fees, stake LP tokens to earn CAKE, stake CAKE to earn more CAKE and stake CAKE to earn tokens of other projects. Source: Coinmarketcap.com -------- Here we have CAKEBTC (PancakeSwap) with a bullish chart setup. Prices moving above EMA21 and bullish action only in the past four days. You have multiple targets marked on this chart up to 245% of potential profits. This is not financial advice. Thanks a lot for your support. Namaste.
Long
by AlanSantana
11
CAKE sidelining CAKE REVIEW Rough consolidation for CAKE, just experienced a bad event recently with the DNS attack, luckily the team managed it really carefully. Most of the value of CAKE remained because of people staking it and using farms for rewards. Price action could be explained by less buyers in and more early adopters selling to invest elsewhere. Lack of new incentives to buy $CAKE is reason why price is slowly dropping. As long as TVL remains high and solid, I wouldn’t panic. The fact that the price is under the 200EMA in the 4H chart makes me kinda bearish, but when we zoom out to the daily we are only near the 50EMA, which is still fine for now. RSI has been under 55 for the main time since mid February (but never went completely oversold)which shows that a lot of people are still holding and staking. Pancake is willing to be the Uniswap of Binance, for so it has revamp itself, which is going to happen before June 30th with CAKE V2 to happen in Q2. On a fundamentals perspective, I am really bullish on CAKE since they are planning to change the contract for migration and develop: * The ability to create a referral program (users can earn a percentage from referral fees). * Adding an automated buyback and burn mechanism (from trading fees). * Enable automatic compounding on syrup pools. * Enable access to minting logic; governance votes decide on emission rates. * LENDING & BORROWING PancakeSwap is currently working on a Minimal Viable Product (MVP) version for lending and borrowing. The high demand for such products can be seen in projects like Venus, which is currently the project with the highest TVL on the BSC. PancakeSwap wants to be able to offer this service to its users as well. The fees generated by lending and borrowing would be used to buyback and burn $CAKE. This product will be released after the release of their prediction market. These are the reason why I would buy more if ever we would retest the red support at 5$. Otherwise I’d keep staking in the syrup pool and earn juicy CAKE that I would sell not less than 22$ Cheers
C
by OobCast