CAKE, AVAX and ATOM price analysis, are these coins worth buying?

By: Milko Trajcevski
Milko Trajcevski
Milko leverages his passion for cryptocurrencies and teaches investors something new each day. During his spare time, he loves… read more.
on Aug 23, 2021
  • PancakeSwap has seen an increase in trading volume by 35% in the last 24 hours.
  • Avalanche has seen an increase in its market cap by 10% in the last 24 hours.
  • Cosmos broke the $20 price barrier yet again in August.

PancakeSwap CAKE/USD is an automated market maker (AMM) that has tremendously increased its trading volume by 35% within the span of the last 24 hours.

 Avalanche AVAX/USD is an umbrella platform used for launching decentralized finance (DeFi) applications and financial assets and is used for trading. It has experienced an increase in its market cap by 10%.

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Cosmos ATOM/USD is an inter-blockchain communication (IBTC) protocol launched in February of 2021 that creates the internet of blockchain through improving interoperability. It broke past the $20 barrier.

Should you buy PancakeSwap (CAKE)?

On August 23, PancakeSwap (CAKE) had a value of $25.35.

PancakeSwap (CAKE) had its all-time high on April 30 with a value of $43.96. This makes its all-time high value 73% higher than its value on August 23.

To get a better perspective of its more recent performance and growth, we’ll be analyzing its performance throughout July.

CAKE saw its lowest point on July 20 with a value of $10.99 and its highest point on July 31 with a value of $16.26. Here we can see a growth of 47%.

When we compare its highest point in July with the value on August 23, we can see that it is 54% higher, which signals a growing pattern and makes it a worthwhile purchase. 

Should you buy Avalanche (AVAX)?

On August 23, Avalanche (AVAX) had a value of $48.59.

Avalanche (AVAX) had its all-time high on February 10 at $59.40. This makes its all-time high 22% higher in value.

In order to see what kind of growth the token has experienced as of recently, we’ll be analyzing July.

On July 7, it had its highest point at $14.13, and it had its lowest point on July 20, with a value of $9.35. This signaled a decrease in value of 31%. 

However, when we compare its highest value on July 7 with August 23, we can see that August 23 has a value point that is 250% higher. This makes it a good purchase. 

Should you buy Cosmos (ATOM)?

On August 23, Cosmos (ATOM) had a value of $21.82.

Cosmos (ATOM) had its all-time high value on May 7 with a value of $31.70. This made the token 45% higher in value than it is on August 23.

When we take a look at July, we should have a clearer perspective about the more recent growth of the ATOM token in terms of value.

The token saw its highest point on July 11 at $14.69, while it saw its lowest point on July 20 with a value of $8.98. Here, we can see that the token experienced a drop of value by 39%.

That being said, August 23 has a value point that is 48% higher than its highest point of value on July 11.

This makes the Cosmos token a worthwhile buy. 

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