CAKE is the native token of PancakeSwap, a decentralised exchange for exchanging BEP20 tokens on the Binance Smart Chain. PancakeSwap uses an automated market maker (AMM) model in which users trade against a liquidity pool. These pools are filled using user funds. They put them in the pool and receive liquidity provider tokens in exchange. They can use these tokens to return their stake plus a portion of the trading fees.
In other words, users get access to BEP-20 token trading and liquidity provisions for a reward
PancakeSwap is one of six projects from Binance Smart Chain that received a development grant from Binance in October 2020.
CAKE's capitalisation at the beginning of April 2021 was over $4 billion.
In mid-January 2021, CAKEUSD cost $0.60, but by the end of the quarter, its price had risen more than 30 times!
What's more, its average intraday volatility was 12.1%.
How to buy and sell CAKEUSD CFDs
You can buy and sell CFDs for CAKEUSD through a broker or a trading platform, such as MetaTrader 4 or Libertex, where leverage can be used, and you can trade if the cryptocurrency's value goes down or up.