PancakeSwap CAKE/USD is a decentralized exchange (DEX) that lets users trade cryptocurrencies without a centralized intermediary and is built on automated smart contracts deployed on the Binance Smart Chain.
ApeSwap BANANA/USD is a DEX trading platform that has an automated market maker (AMM) mechanism alongside yield farming and staking based on the Binance Smart Chain.
BakerySwap BAKE/USD is an AMM and a curated NFT marketplace on the Binance Smart Chain.
Should you buy PancakeSwap (CAKE)?
On November 16, PancakeSwap (CAKE) was worth $18.04.
To get a better perspective as to what kind of value point this is for the token, we will compare it to its all-time high value as well as its performance in October.
PancakeSwap (CAKE) achieved its all-time high value on April 30 when it reached $43.96. Here we can see that at its peak, the token was $25.92 or 143% higher in value than on November 16.
On October 7, CAKE had its highest value point of the month at $20.9.
With that in mind, on October 31, the token fell to its lowest point of the month at $17.31.
Here we can see that the token fell in value by $3.59 or by 17% throughout October.
However, from October 31 to November 16, it grew by $0.73 or by 4%.
With this in mind, CAKE has the potential to reach $20 by the end of November, making it a worthwhile purchase.
Should you buy ApeSwap (BANANA)?
On November 16, ApeSwap (BANANA) had a value of $1.6164.
With the goal of analyzing what this value means for the token, we’ll compare it to its all-time high value as well as its performance in October.
On May 2, 2021, ApeSwap (BANANA) had its all-time high value at $11.53. At its all-time high point, the token was $9.9136 higher in value or by 613%.
That said, on October 2, the BANANA token had its highest point of value of the month at $3.0241.
Its lowest point was on October 27, when the token fell to a value of $1.5999. Here, we can see that the token fell in value by $1.4242 or by 47%.
However, from October 27 to November 16, the token raised its value to $0.0165 or by 1%.
With this in mind, by the end of November, we can expect to see BANANA reach $2, which makes it a solid buy. However, if the token drops under $1.5, it might be worth reconsidering.
Should you buy BakerySwap (BAKE)?
On November 16, BakerySwapa (BAKE) had a value of $ 1.9094.
With the goal of seeing how far this token has the potential to grow, we will analyze its all-time high value and performance last month.
BakerySwap (BAKE) had its all-time high value on May 2, when it reached a value of $8.38. Here, we can see that the token was $6.4706 higher in value or by 338% at its all-time high.
On October 12, the token had its lowest point of value at $1.6926 of October.
With its lowest point out of the way, on October 14, the token raised its value to its highest point of value of October at $2.3942. Here we can see a 41% increase in value, or by $0.7016.
With this in mind, we can expect BAKE to reach $2.5 by the end of November, making it a solid purchase.
The post Top Binance Smart Chain Ecosystem Coins to buy on November: 16 PancakeSwap, ApeSwap, and BakerySwap appeared first on Invezz.
from Market Analysis – Invezz
