What is the current price of PancakeSwap?
The current price of PancakeSwap is $2.00 with a 1.66% change in the last 24 hours.
PancakeSwap is a decentralized exchange built on automated market maker pools, where trades settle against pooled liquidity instead of an order book. It started on BNB Smart Chain and its documentation now lists it as live on eleven networks, including Ethereum, Solana, Base, Arbitrum and Aptos. Beyond swaps it runs yield farms, perpetual futures, a token launch product and prediction and lottery games. CAKE is the native token, used for governance voting, farm rewards and launch participation.
Official resources:
PancakeSwap is run by a pseudonymous team. Its documentation lists a Kitchen Team identified only by chef nicknames, such as Chef Kids as Head Chef, and publishes no legal names, so the people behind the project are not publicly identified in official documentation. The GitHub organization and core repositories were created in mid-September 2020, matching a September 2020 launch on what was then Binance Smart Chain. Infinity, the current AMM design, shipped in April 2025.
Liquidity providers deposit two assets and receive LP tokens. Traders swap against the pool and pay a fee that accrues to providers, with a share redirected to CAKE buy-backs and burns. The v3 design added concentrated liquidity. Infinity uses a singleton contract, flash accounting and hooks, small pieces of code that run at set points in a pool's lifecycle to enable custom oracles, dynamic fees and new pricing curves.
CAKE is the reward paid by farms and the deposit asset for CAKE.PAD launches, where all participation fees are burned. Since the Tokenomics 3.0 update, governance uses plain balances: one CAKE in a wallet equals one vote, delegation is not permitted, CAKE staked in Syrup Pools does not count, and proposals require 100,000 CAKE at snapshot. The earlier veCAKE vote-locking system was retired.
CAKE has a hard cap, cut from 450 million to 400 million by a proposal passed on January 16, 2026, and the documentation targets roughly 4% annual deflation. Burns are funded across products: 15% to 23% of spot trading fees, 20% of perpetual trading profits, all CAKE.PAD fees and 20% of CAKE played in the lottery.
Uniswap concentrates on spot trading with a governance-only token, while Curve and Aerodrome route influence through long vote-escrow locks. PancakeSwap went the other way in 2025, removing vote-locking and returning voting rights to ordinary balances, while keeping a wider consumer surface that includes games and leveraged trading.
Traders swap without an account or custodian. Liquidity providers earn trading fees and, in incentivized pools, CAKE emissions. Projects use CAKE.PAD to distribute tokens and Syrup Pools to reach CAKE holders. Developers use Infinity hooks to build custom pool behavior.
The protocol is non-custodial and contracts are open source and verified on block explorers. The documentation publishes an audit index covering Infinity, the CAKE token, MasterChef V3, Exchange V3, cross-chain farming and the CAKE bridge, with reports from firms including PeckShield, SlowMist, BlockSec, Cyfrin and HashDit.
Smart contract failure remains possible even in audited code, and liquidity providers face impermanent loss when pool prices diverge. Perpetuals are documented with leverage up to 1001x in Degen Mode, which can liquidate a position on a small move. Emissions continue, so the deflation target depends on product revenue holding up. A pseudonymous team means accountability rests on code and governance, one-token-one-vote concentrates influence in large holders, and multichain deployments add bridge risk.
PancakeSwap has been one of the highest-volume decentralized exchanges outside Ethereum since 2020 and remains the main on-chain venue for many BNB Chain users. Its shift to direct token voting, paired with a shrinking hard cap funded by product fees, tests whether an exchange can sustain a deflationary token through revenue.
CAKE trades on centralized exchanges including Binance, Coinbase Exchange, Kraken, Bybit, KuCoin, Gate, Bitget, HTX and MEXC, mostly against USDT, USDC and USD. It is also available on-chain through PancakeSwap itself on BNB Smart Chain, Ethereum, Base, Arbitrum and Solana.
Leaving CAKE on an exchange means the exchange holds the keys. Self-custody options include wallets supporting BNB Smart Chain and the other networks CAKE runs on, with hardware wallets preferable for larger balances. When moving CAKE between chains, use the official bridge and confirm the contract address on the destination network.
Track PancakeSwap live price, chart, market cap, and volume in real time. Practice mock trading and demo trading for PancakeSwap on CoinRithm before using real money.
Use a crypto paper trading account to demo trade PancakeSwap with real-time prices, AI trade feedback, and trading leagues. Test strategies, learn risk management, and build confidence before trading PancakeSwap with real money.
Read the complete paper trading guideThe current price of PancakeSwap is $2.00 with a 1.66% change in the last 24 hours.
The daily trading volume is $2,138,125 representing a 89.55% change in the past 24 hours.
The market capitalization of PancakeSwap is $640,033,053, ranking #82 globally.
The fully diluted valuation (FDV) of PancakeSwap is $798,123,484, calculated assuming the maximum supply of 400,000,000 CAKE is in circulation.
Circulating: 320,768,937. Total: 332,454,315. Max: 400,000,000.
In the last 24 hours, PancakeSwap traded between a low of $1.95 and a high of $2.07.
CAKE/USDTTether USDT2.00 USDT
Binance Wallet’s launch of one-tap liquidity provisioning is presently usable only on BNB Smart Chain (BSC) via PancakeSwap and Uniswap V3 DEXs.
Dune's study shows 85% of liquidity on major DEXs like Uniswap and PancakeSwap is underutilized, leaving $150M+ in annual fees unrealized. (Read More)
CoinGecko ranking reveals the list of top 10 decentralized exchanges (DEXs) by 24-hour trading volume, led by Uniswap V4 and PancakeSwap on BNB Chain.
Tokenized U.S. equities program bStocks launches $300K+ rewards campaign across Trust Wallet, PancakeSwap, and DeFi platforms on BNB Chain. (Read More)
Monero jumps above $350 as Cake Wallet support, an audit update, and a breakout test near $400 drive fresh XMR market attention.
1inch exchange review 2026: how the DEX aggregator works, fees, supported chains, Fusion protocol, wallet, and how it compares to Uniswap and PancakeSwap.
