Coin's price on PancakeSwap

[PercT4b]

Might be a stupid question, but how the price of a coin is determined, on PancakeSwap?

Is it taken from Coinmarketcap?...or it's the opposite?

I was asking this because Coinmarketcap sometimes make some mistakes when it comes into calculating the correct price of a coin, so I was wondering if checking it on a decentralized exchange could be a good idea, in order to prevent some bad surprises (like planning to buy at a certain price and then discovering that it is much higher, messing up the strategy)

[magnum1010]

Might be a stupid question, but how the price of a coin is determined, on PancakeSwap?

Is it taken from Coinmarketcap?...or it's the opposite?

I was asking this because Coinmarketcap sometimes make some mistakes when it comes into calculating the correct price of a coin, so I was wondering if checking it on a decentralized exchange could be a good idea, in order to prevent some bad surprises (like planning to buy at a certain price and then discovering that it is much higher, messing up the strategy)

As I know, pancakeswap and other dexes have special functions to connect with oracles. On dexes we trade due to liquidity pools where other people lock their assets and get interests then. Actually, prices on different exchanges can differ, but not significantly and it is fixed fastly by arbitrageurs. And if the price is very different or is likely to change rapidly you just have big slippage.

[the ghabbar]

Might be a stupid question, but how the price of a coin is determined, on PancakeSwap?

Is it taken from Coinmarketcap?...or it's the opposite?

I was asking this because Coinmarketcap sometimes make some mistakes when it comes into calculating the correct price of a coin, so I was wondering if checking it on a decentralized exchange could be a good idea, in order to prevent some bad surprises (like planning to buy at a certain price and then discovering that it is much higher, messing up the strategy)

Both have almost the same thing in determining coin prices, it's just that the system changes at certain times, so there is an error in determining coin prices, checking this decentralized exchange is quite important, so that unwanted things don't happen at certain times, that's why we need some references for each issue that arises, so that when an unexpected event occurs, we have the option to resolve it.

[Pom_bensin]

Might be a stupid question, but how the price of a coin is determined, on PancakeSwap?

Is it taken from Coinmarketcap?...or it's the opposite?

I was asking this because Coinmarketcap sometimes make some mistakes when it comes into calculating the correct price of a coin, so I was wondering if checking it on a decentralized exchange could be a good idea, in order to prevent some bad surprises (like planning to buy at a certain price and then discovering that it is much higher, messing up the strategy)

the price on pancakeswap is determined by the volume of the coin's market liquidity.
for coinmarketcap why have different prices? the answer is coinmarketcap determines prices based on the average so there is a difference greater or less than the price of coins on the exchange. and it can be updated periodically. so coinmarketcap can't 100% fully imitate the price on the exchange