What is SakeSwap, Anyway?
SakeSwap is a trending destination to buy and sell cryptocurrencies. It is growing in popularity due to its ease of transactions and zero reliance on intermediaries. Currently, SAKE tokens are showing reliable performance.
Let’s find out more about SakeSwap and its potential.
What is SakeSwap?
SakeSwap is a new decentralized exchange and works as an AMM for buying and selling cryptocurrencies. AMM refers to an automated market maker, and decentralized means the platform is free from human interventions. The trading happens automatically based on blockchain technology.
AMM is changing decentralized finance or DeFi. It provides a way for buyers and sellers to trade cryptocurrency with high liquidity. The term liquidity indicates how easily someone can convert a cryptocurrency to another coin or fiat currency.
Therefore, SakeSwap and other AMMs allow people to buy and sell cryptocurrency without facing delays.
What are SAKE Tokens?
SAKE is the native token of the SakeSwap ecosystem. It allows SAKE holders to vote in the governance of the platform and also help pay fees for transactions on SakeSwap.
SAKE tokens have a total market cap of $5,590,083, as per CoinGecko. It has a maximum supply of 130,000,000 tokens, while 73,697,603 are in circulation.
Currently, around 4,000 people own SAKE tokens. Additionally, the top 100 holders have a share of over 88% of the tokens.
You can buy SAKE tokens from a few crypto exchanges. However, none of the popular exchanges list SAKE on their websites.
SAKE Price Analysis: What to Expect
SAKE has a rank of 1,316 among global cryptocurrencies. It is trading at $0.075852 at the moment, with a downfall of 6.1% in value over the past 24 hours.
However, SAKE recovers fast from price dips and ends up back on its upward trend on a daily basis. In the last 7 days, SAKE tokens increased by 50.7% in price.
The growth rate over the long term is also encouraging. SAKE increased by 152.4% in the past 14 days. It experienced a price hike on September 29 and has been hovering around the $0.07 to $0.08 mark till now.
Sake’s monthly performance is also attracting investors as the tokens have grown in value by 108.4% in the last 30 days.
In addition, the yearly growth of SAKE stands at 9.8%. According to estimates, SAKE could climb to $0.50 by the end of 2021, and after another year, it could jump to $0.80, with a predicted growth of 995%.
SAKE’s price also often depends on how the SakeSwap platform performs; the tokens can match the predictions and increase in value if more traders use it.
SakeSwap is another reliable addition to the DeFi system. SAKE tokens also show promise and could grow in value in the coming days. However, SAKE is a cryptocurrency and investing in it involves risks like price volatility. Always do your research before you invest and only put in as much as you can afford to lose. Additionally, keep an eye on our page for more SAKE updates.