Starting today, you can trade two new coins on BLOX: PancakeSwap and Render Token. In this article we explain what these coins do and look at the tokenomics. This is a word used in the US to share some statistics about the currency.
PancakeSwap: new way of trading
PancakeSwap is a decentralized exchange (DEX) built on the Binance blockchain. A DEX is an exchange where you can trade cryptocurrencies without the need for a central authority to monitor transactions.
This type of exchange is especially popular during bull markets, because a large number of exchanges take place there. “Damn coins‘ to offer. There is no central authority that controls what you do with your money. The disadvantage is that there is little control over the legitimacy of the cryptocurrencies offered.
PancakeSwap is therefore an exchange, but at the same time this name is also used to name the associated currency. Do you expect the fair to be big? Investing in PancakeSwap therefore makes sense. Does that not bother you at all? So leave that aside.
The current value per coin is approximately 2 euros. On April 30, 2021, the value briefly exceeded 40 euros.
To date, 388.3 million tokens have been created, of which 264.8 million are in circulation. It was agreed that there would never be more than 750 million PancakeSwap coins. Inflation is high, more than 5% last year.
The market capitalization is approximately 527 million euros, good for 90th place.
Render Token (RNDR)
What does the render token do? In fact, it’s in the name. No, it’s not a reindeer, even though it’s almost Christmas. If you’ve ever done anything with video or 3D graphics, you’ll recognize rendering.
Render Token (RNDR) is a cryptocurrency used to access the Render Network, a distributed rendering platform. Rendering allows users to share their unused computing power with others to render 3D images.
The Render Token is used to pay for services offered by the Render Network.
At the time of writing, the coin was trading for around 4.05 euros. The all-time high was $8.03 in November 2021 during the last bull run. This is “only” a decrease of 50%.
Render Token has a market capitalization of 1.36 billion euros, placing it in 45th position.
Source: BTC Direct
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Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
