How My Investment in CAKE toke is Doing - Recent News Around PancakeSwap: Pre-Access Portal Goes Live - Lets Explore...
Hey All,
Recently I invested in #CAKE token and I did blog about it and here is the post - Change In PLAN - Invested in CAKE token - Invested $470+ At the Moment - Lets Explore... I decided to diversify my crypto porfolio a bit and chose to invest the $470+ that I had kept aside for my #HIVE investment, but then I redirected it towards buying #CAKE tokens. Its been 12 days into investment and right now I am already sitting at a profit of around close to $100 dollars - Not that bad at ALL RIGHT? Have a look at the following two images to get the idea on the profit made by just holding the #CAKE tokens...
Earlier CAKE Investment Status
Current CAKE Investment Status
My decision to buying #CAKE token was mainly due to the platform it belongs to which is PancakeSwap which is a DEX [Decentralized Exchange] allowing swapping of different crypto tokens, a complete DeFi ecosystem where users can provide liquidity and earn trading fees, participate in farming, stake CAKE to earn rewards, use perpetual trading, bridge assets across different blockchains and even participate in prediction markets. There is a lot more to it, but for now, let's stick to the ones listed above, along with bStocks trading, which is again gaining a lot of attention these days.
The other major factor of investing in the #CAKE token was round its tokenomics which is now deflationary and has a fixed supply of 400 million tokens, with CAKE token burn mechanics in place. There is CAKE burn dashbaord which gives a clear picture around the token burn and current supply of CAKE token - PancakeSwap CAKE Burn Mechanics: Dashboard
Total CAKE supply: 331 Million CAKE
Burned CAKE: 60.47 Million CAKE
Peak supply: 392 Million CAKE
Total supply: 400 Million CAKE
Approximately 15.4% of the peak supply has been burned (60.47M ÷ 392M) - how good this can be for a token you guys tell me? What do you all think about the CAKE token burn happening on a weekly basis. Ok, now enough on my #CAKE investment, the token itself, and the PancakeSwap ecosystem. Let’s move on to the next part of the blog post which is around the recent news - PancakeSwap: Pre-Access Portal Goes Live - Early Access to the Market Before the Market. The news already brought a good increase in the price of CAKE token i.e. a 10% increase and currently its trading around $2.56+ dollars. Can it got to $5+ - why not? We need to wait and watch how this offering evolves, especially the tokenized, fully on-chain and self-custodial exposure to private companies before they go public through the PancakeSwap Pre-Access Portal. It will be interesting to see how this develops and whether it can open up new opportunities for users to get early exposure to such companies. I have no idea but if ALL the fees earned goes on to burn #CAKE then this news is going to BIG altogether for the platform overall. We will have to wait and watch but for now this should be it for todays post on - "How My Investment in CAKE toke is Doing - Recent News Around PancakeSwap: Pre-Access Portal Goes Live - Lets Explore....." Go CAKE token Go... $5+ COMING SooNNN... cheers
#CAKE #PancakeSwap #DeFi #CryptoInvestment #Tokenomics #RWA
Image Source:: Self Created via Pro Canva & ChatGpt, Pancakeswap finance, Binance, blog.pancakeswap.finance
Best Regards
Paras
PS:- None of the above is a FINANCIAL Advice. Please DYOR; Do your own research. I've an interest in Blockchain, Stocks & Cryptos and have been investing in many emerging projects. Also I am using ChatGpt for structing of the table content in markdown language at times...