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PancakeSwap and Refinable: 2 new cryptocurrencies currently in the game

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  • PancakeSwap (CAKE): 39th leading crypto token
  • A bull market for pancake tokens
  • NFTs: The new, hot asset market
  • Refinable (FINE) has just been released and is the native NFT asset
  • Invest only what you can afford to lose

New tokens appear every day in the cryptocurrency asset class. Investors, traders and speculators continue to search the market for the next token that will generate Bitcoin-like returns. In 2010 it was only worth five cents. A $ 1 investment bought 20 tokens, which had grown to over $ 1.31 million by April 14, 2021, when the leading digital currency hit its most recent high at $ 65,520.

, the second largest cryptocurrency, traded below 60 cents in October 2015. On May 12th, Ethereum hit a high of $ 4406.50. A $ 100 investment in Ethereum at 60 cents in late 2015 was worth nearly $ 735,000 at its most recent high. Returns like these are magnets for speculators looking for the next token that will take off into the stratosphere.

It’s hard to believe that an asset called PancakeSwap () has a market capitalization of over $ 5.1 billion and is in the top 40 in the digital currency hierarchy. Refinable () is a new token aimed at the burgeoning NFT or non-fungible token market. While FINE only ranks 3,030 according to CoinMarketCap, the NFT token could rise steeply with the emerging digital market.

PancakeSwap: 39th leading crypto token

If Elon Musk, Snoop Dog, Mark Cuban, and other Dogecoin fans are out, it probably won’t be long before other celebrities develop an affection for PancakeSwap (CAKE) just because of the name.

PancakeSwap calls itself the Binance Smart Chain-based DEX (Decentralized Exchange), launched by anonymous developers with a taste for breakfast foods and rabbits. The token and protocol product for community governance, the ability to farm tokens from liquidity providers, includes more features that users can use to earn rewards.

The lead in the website says

“Turn the CAKE over, collect the SYRUP and stick it with PancakeSwap, the best decentralized exchange in the Binance Smart Chain.”

A bull market for pancake tokens

The price action in CAKE is another reason speculators flock to cryptocurrencies to look for the next token that will deliver staggering returns.

Source, all charts: CoinMarketCap

The graph shows that the CAKE token was worth $ 0.000232 in September 2020. By the end of 2020 it had risen to 62.6 cents. On May 12, it was trading at $ 30.70. These pancake swaps exploded higher, hitting over $ 5.1 billion in market cap, placing them in the top tier of the cryptocurrency asset class.

NFTs: The new, hot asset market

A non-fungible token, or NFT, is a unit of data stored in a digital ledger or blockchain that certifies a digital asset as unique and non-interchangeable. NFTs can represent photos, videos, audios, and many other types of digital files.

In March, an NFT artwork sold for $ 69 million at Christie’s auction house. The buyer received the digital file for that sum, and that’s all.

The art was unique, it was property, but it has no tangible configuration in its original form. The digital token is a certificate of ownership. Only one owner of the data record appears in the blockchain. The NFT is proof of ownership of the original work.

Everything can be tokenized and sold as NFT. On February 19, an animated GIF of Nyan Cat, a 2011 meme of a flying pop-tart cat, whatever that is, sold for over half a million dollars.

Recently, Grimes, musician and partner of Tesla’s Elon Musk, sold some of her music for over $ 6 million. Jack Dorsey, founder of Square (NYSE 🙂 and Twitter (TWTR), is promoting his first tokenized tweet with bids of $ 2.5 million. People who sell these NFTs are known as “crypto-grifters”.

Refinable just came out and is the native NFT asset

If NFTs are making millions why not have a token that reflects the new market. Refinable (FINE) states on its website:

“The first major NFT marketplace on BSC (Binance Smart Chain), which enables individual creators as well as popular brands to easily and inexpensively create, discover, trade and use NFTs.”

The FINE token ranks 3,030 out of 9,753 cryptocurrencies floating around in cyberspace. The token is too new to have data on its market capitalization, but it has a price history.

Refinable table

The graph shows that FINE appeared to open for trading on April 27, 2021 at the $ 8.35 level. On May 12, it dropped to $ 1.83. According to CoinMarketCap, its fully diluted market cap on May 12 was nearly $ 925 million.

If the NFT market continues to grow, FINE could be a steal at under $ 2 per token. It could end up in the crypto junkyard with thousands of other digital currencies too.

Invest only what you can afford to lose

I am a practical guy who likes to touch and feel assets. When I own a stock, it’s comforting to know that it has a headquarters, factory, property, and equipment. It also has managers and employees. If I have fiat currency, I can put it in my wallet, safe, or bank. I can hold and store goods and live in real estate.

It will take me a while to get used to the new cryptocurrency assets. NFTs and the tokens that reflect this market are on another level that will require retraining my brain, and I’m not there yet.

When it comes to PancakeSwap, Refinable, and all the new assets pouring into the market, I only invest money I can afford to lose.

Warren Buffett called digital currencies “financial rat poison squared” a few years ago. Recently, his partner Charlie Munger said the asset class was “gross and contrary to the interests of civilization”. Munger “hates” the success of the market.

Bottom line, when it comes to cryptocurrencies or NFTs, you are only spending what you are willing to give up. You could make a fortune, but risk is always a function of reward, so every penny invested is at stake in these investments.

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